Billionaire investor Carl Icahn has made over $2bn by selling all his shares in Apple.
Icahn, who reportedly owned 53 million shares worth $6.5bn last year, said that China’s economic slowdown will adversely impact Apple.
“We no longer have a position with Apple,” he told CNBC.
Icahn went on to say that government interference is also one of the main reasons he decided to sell his shares
He said: “You can’t go into that business unless you’re like Samsung which is really like a country backing it. A lot of people tried, a lot of people failed…In China, for instance, they will come in and make it very difficult for Apple to sell there.
“They could theoretically, you know… They’re basically in some senses I would say, perhaps benevolent but a benevolent dictatorship. I don’t know if benevolent is the right word.”
The news comes as Apple reported a 13% drop in its second quarter revenue as iPhone sales plummeted.