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| Carl Icahn dumps Apple shares over China fears | Carl Icahn dumps Apple shares over China fears |
| (35 minutes later) | |
| Billionaire activist investor Carl Icahn has sold all his shares in Apple over concerns about the technology firm's prospects in China. | |
| "We no longer have a position with Apple," he told CNBC. | "We no longer have a position with Apple," he told CNBC. |
| Reports say Mr Icahn made $2bn (£1.4bn) from selling his stake in Apple. At one point last year, he owned 53 million shares worth $6.5bn. | Reports say Mr Icahn made $2bn (£1.4bn) from selling his stake in Apple. At one point last year, he owned 53 million shares worth $6.5bn. |
| He blamed China's economic slowdown and worries over government interference for selling out of Apple. | He blamed China's economic slowdown and worries over government interference for selling out of Apple. |
| In March China passed a law that required all content shown in China to be stored on servers based on the Chinese mainland. | In March China passed a law that required all content shown in China to be stored on servers based on the Chinese mainland. |
| As a result Apple's iBooks and iTunes movies service were shut down in the country. Apple said it hoped access to the services would be restored soon. | As a result Apple's iBooks and iTunes movies service were shut down in the country. Apple said it hoped access to the services would be restored soon. |
| Earlier this week, Apple reported in a 13% drop in its second quarter revenue as sales of iPhones slipped. | Earlier this week, Apple reported in a 13% drop in its second quarter revenue as sales of iPhones slipped. |
| Mr Icahn started buying Apple shares in the third quarter of 2013 when they were trading at about $68 a share. | Mr Icahn started buying Apple shares in the third quarter of 2013 when they were trading at about $68 a share. |
| Shares closed down 3% to $94.83 on Thursday and have shed 27% in the past 12 months. | |
| Cook 'sorry' | Cook 'sorry' |
| Mr Icahn said he spoke to Apple chief executive Tim Cook to tell him about the share sale. | Mr Icahn said he spoke to Apple chief executive Tim Cook to tell him about the share sale. |
| "I called him this morning to tell him that, and he was a little sorry, obviously. But I told him it's a great company," he said. | "I called him this morning to tell him that, and he was a little sorry, obviously. But I told him it's a great company," he said. |
| The stock sale has not been disclosed in a filing to the stock regulator. | The stock sale has not been disclosed in a filing to the stock regulator. |
| Mr Icahn is the majority shareholder in Icahn Enterprises - a holding company with a range of investments, with interests ranging from mining to automotive to real estate and food packaging. | Mr Icahn is the majority shareholder in Icahn Enterprises - a holding company with a range of investments, with interests ranging from mining to automotive to real estate and food packaging. |