Carl Icahn is bearish on the current stock market. After making billions buying Netflix shares near $58, the iconic investor announced today that he’s cashing out now that the stock is trading around $677 because the ‘overheated.’
Despite pulling out of Netflix though, Icahn is still super bullish on AAPL and thinks that the stock is actually at the same point now as when he bought into Netflix back in 2012.
“I don’t see how you can compete with Apple, because of this ecosystem they’ve built,” Carl Icahn told CNBC this morning.
“Apple is where Netflix was but Apple is even in a certain way better because of barriers for competition there,” the billionaire activist-investor explained. “Apple could be one of the greatest stocks of the century,” revealed Icahn who says he hasn’t sold a single share since taking a strong interest in Apple’s stock back in 2013.
Despite strong iPhone sales and the Apple Watch blazing a trail in the wearables market, AAPL shares have plateaued below $130 per share the last 6 months, but that’s totally cool with Carl, who said who wouldn’t mind if Apple shares dropped even lower now that the market is about to fall a bit.
“If Apple goes down, I’m not that upset because I’ll buy more of it,” said Ichan. “If you really love a company, in a strange, perverse way, you almost don’t mind it going down. Apple I really wouldn’t mind.”
Buster Hein is a freelance writer who lives in Phoenix, Arizona. Twitter: @bst3r.
9 responses to “Carl Icahn: Apple could be one of the great stocks of the century”
This guy shouldn’t be allowed to talk publicly about stocks. He keeps pumping stocks he owns, trying to drive them up, verging on insider trading. If you or I did that the feds would be at the door in 5 minutes.
It’s nothing like insider trading. Also, we know he has a long position and therefore benefits from a rise in price. Investors are welcome to listen or disregard.
If you are searching for extra money in the range of $50 to $300 daily for doing easy work at your home for 3-4 h each day then check this out…
I think most investors are disregarding. Apple stock is going nowhere fast despite Apple pouring in billions of dollars. It’s so weird how Apple can keep tossing money down a bottomless pit since it’s not doing anything for the shareholders.
keep in mind that aapl is up 15% this year, and enjoyed an even bigger run the second half of 2014. A lot of the recent good news is already baked in. I suspect we’ll see more positive movement in the coming months – assuming US stocks stay strong.
Apple is a DEAD COMPANY WALKING they had ONE stellar hit thet is saturated, an insecure OS and are still expensive as hell and not cool, This a a very bad combo for an aging Tech company people will leave in droves bow that they have proved they can’t produce anything cool anymore nor secure their OS and the subsides are going away… Bye Apple!
IChan can ride that iPhone nag all the way to the glue factory and have fun.
It seems they’re still growing, even accelerating over the last 9 months. Perhaps you were referring to Google.
Nice try, Carl. Netflix is one thing, Apple is something else. Apple’s negative share price movement for five months despite the company’s revenue and profitability going up is not good for shareholder confidence.
But shareholder confidence is fickle. One could also say that Apple has used the past months of sideways movement to consolidate for the next leg up. Who knows? Icahn is not just talking, he’s invested in the company beyond any of our wildest imaginations. I’m pretty sure his decision to buy in was based on a little more than hope for the best.