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Billionaire investor Carl Icahn told CNBC on Thursday he has sold his Apple position as the tech giant’s stock continues to shed value after disappointing earnings.
“We no longer have a position in Apple,” Icahn told CNBC’s “Power Lunch,” noting Apple is a “great company” and CEO Tim Cook is “doing a great job.”
Icahn previously owned a little less than a percent of the tech giant’s outstanding shares, which were down more than 3 percent midafternoon Thursday after falling more than 6 percent Wednesday. He said he made roughly $2 billion on Apple, a stock he continued to tout as “cheap” despite his reservations.
Icahn said China’s attitude toward Apple largely drove him to exit his position.
“You worry a little bit – and maybe more than a little – about China’s attitude,” Icahn said, later adding…