Carl Icahn is dancing the hora over Apple’s historic $18 billion sales, the largest of any company in history. While Icahn is in good company among hedge fund managers who have a piece of Apple, it was Icahn that declared in October that Apple was a “no brainer” investment that was undervalued and has been the best stock to buy in a decade. This wasn’t necessarily a foregone conclusion, since, in recent memory, some were calling the company’s demise after the passing of Steve Jobs and not too long ago, questioned its mobile strategy, which now comprises 69% of sales. Icahn is pleased with Apple, but there is always room for improvement; as he has said in the past, Apple should enlarge its buyback.
Carl Icahn occasionally makes mistakes, but he will admit them publicly if his son, Brett, turns out to be right. As reported by Benzinga, Carl Icahn said he erred and his son Brett and his fund’s co-manager David Schechter were right that Icahn had gotten out of Netflix too soon and should have given it a chance. “What I was worried about and conservative about Netflix, and obviously wished I hadn’t been as conservative, was ‘net neutrality.’ However, that one storm cloud has gone away.”
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