Apple has had a tough week after reporting that its quarterly revenue fell for the first time since 2003. Things got worse today when billionaire investor Carl Icahn announced that he had sold his shares in the company.
The news sent Apple stock, already depressed by the disappointing earnings report earlier this week, down another 3 per cent. Apple's stock, one of the most widely held in the world, is now down about 10 per cent this week, erasing about $60 billion from its market value.
Icahn has been one of Apple's most prominent -- and vocal -- investors. In 2014, he suggested that Apple was undervalued and was worth more than $1 trillion. Icahn has also repeatedly tussled with the firm about a program for buying back its stock, which could raise its value. The company eventually relented.
But, Icahn said on CNBC, he has now sold all of his shares in the company and made a $2 billion profit.
"We obviously made a great deal of money," Icahn said.