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Investor Carl Icahn Dumps Apple Shares Over China Concerns
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Stock at $130 last year, $94.68 (and going down) right now. And sales down.
If there's any sanity left in Cupertino, heads are going to roll.
China is weaker than they are willing to admit. About the only thing keeping the whole place going into civil wars is their authoritarian actions literally killing off political dissidents. They even have execution vans going from town to town ridding the state of dissent. History has shown that practices like this do not last for long with everything exploding or imploding.
One might suspect he has been talking up Apple over the last year to drive up the price so he could sell his.
I'm am SO much looking forward to that happening. Then it will be time for China to pay the piper!
Isn't that the sole and only point of being an investor in the stock market?
So, which area is failing among the ones listed below? Schiller and Riccio have to go.
Timothy Cook
Chief Executive Officer, Director
Luca Maestri
Chief Financial Officer, Senior Vice President, Principal Accounting Officer
Jeff Williams
Chief Operating Officer
Bruce Sewell
Senior Vice President, General Counsel, Secretary
Phil Schiller
Senior Vice President - Worldwide Marketing
Angela Ahrendts
Senior Vice President - Retail and Online Stores
Eddy Cue
Senior Vice President - Internet Software and Services
Craig Federighi
Senior Vice President - Software Engineering
Dan Riccio
Senior Vice President - Hardware Engineering
Johny Srouji
Senior Vice President - Hardware Technologies
Jonathan Ive
Chief Design Officer
Timothy Cook
Chief Executive Officer, Director
Luca Maestri
Chief Financial Officer, Senior Vice President, Principal Accounting Officer
Jeff Williams
Chief Operating Officer
Bruce Sewell
Senior Vice President, General Counsel, Secretary
Phil Schiller
Senior Vice President - Worldwide Marketing
Angela Ahrendts
Senior Vice President - Retail and Online Stores
Eddy Cue
Senior Vice President - Internet Software and Services
Craig Federighi
Senior Vice President - Software Engineering
Dan Riccio
Senior Vice President - Hardware Engineering
Johny Srouji
Senior Vice President - Hardware Technologies
Jonathan Ive
Chief Design Officer
We're not "giving" them money. We're paying them for their work (from which we benefit much, much more than they do).
Company owners often talk like that, too, as if they are handing out charity when they sign pay checks. It always makes me mad.
it's a joke man stop getting so mad, take some time outside for some fresh air or something
I think part of this could be part of an initiative to basically start import replacing, making their economy self-sufficient and needed to be propped up very little by exporting goods. If that ends up being the case, then expect to see similar actions against other American/foreign companies (MS, Google, Facebook... (if they have Facebook or Google over there now)).
My guess is it's all probably a reaction to the cutbacks we saw in China last fall/winter.
That's my take. If anyone has a more informed opinion, I'm all ears.
The press loves painting pictures of failure. Sure, this is not a good time for Apple, but it also was bound to happen at some time. My goodness, they had 13 years of growth and this is their first step backwards.
I do think Apple, and everyone in the high-tech world has challenges ahead. There are so many "me too" products out there now. Everyone seems to scramble to mimic what they think is the next big thing. Look at the smart watch business. Not bad for Apple, but many others are barely making sales. Another good example is Microsoft and the surface book. Everyone was "wowed" by that product, yet it's struggling among many "me too" products and trying to build a category that is marginally attractive.
Apple still has a bright future in my opinion... but they are going to have to step it up some to surpass the mass of competition. Seems to photocopiers work overtime these days at some companies and it's a challenge to stay ahead very long.
The next big check-points will be the new MacBook Pro's, iOS10 and iPhone 7. Lots of opportunity to do some great stuff with the new AppleTV and Apple Watch too if they can do something different there. My take is it's time to really focus on Continuity. Time to really focus on making all Mac and OS devices truly seamless and work throughout the home, and car. This is one area where Apple has some great starts... but they need to be finished.
"Dears" are so tragic
Don't worry there are always MORE Apple Watch bands coming lol
I'm not mad, Just annoyed by your nonsense post. Thanks for your concern though.
[doublepost=1461871968][/doublepost]
"Dears" are so tragic
Don't worry there are always MORE Apple Watch bands coming lol
Lol. I edited that and it was supposed to state "Deaths". Love that auto correct feature. And my spelling!
Whatever it takes to get MR to stop posting that photo is a good thing.
Lot's of opinions as usual on MR. Let me try to throw what-I-hope-is a balanced one into the ring. China has the largest population of any country and they have the biggest spending consumer market after the USA. From that perspective it makes sense that to try to sell in that market, especially when the number 1 market is already saturated. It also makes sense since most of their production cost comes from china but most of their revenue comes from elsewhere. Currency fluctuations trying to convert to pay the Chinese for the production is a drag. So for all of these reasons it is hard to fault Timmy for going gangbusters into China. The BIG but (and the associated hole) is the government of China and its continued shifting policies. They want to teeter somewhere between communism and free market and seem to vacillate in reaction to the changing political winds. This is a problem and one that should give the gangbusters a pause. I am not Timmy and his crew, but this is a real issue at many levels that need to be addressed. Moving manufacturing out of China may be a (very) long-term option but near-term and mid-term options need to be developed. Apple has a significant risk here and as much of an anti-fan I am of Carl, I think he is right on this one.
I get where you guys are coming from but in big picture terms, this is just capitalism; the efficient use of resources. If something seems turbulent, then you allocate resources somewhere else. We love Apple, but from an investor standpoint, it really is black and white
I appreciate that Icahn held his shares for as long as he did. Many WS investors buy and sell very rapidly to capitalize on very small market movements. I understand and agree with his motive to sell. The winds seem to be leaving apples sails. Obviously apple is way to big to come crashing down but they have definitely plateaued.
AAPL is lower than it was 1 year ago so it doesn't look like he was successful.
You do realize that Apple had rises and then big sell offs under Steve Jobs as well? This is not something that just started under Tim Cook. Also, outside of Facebook a lot of tech stocks have been down quite a bit over the past week or so. Both Google and Microsoft were down over 6% after they announced earnings.