Icahn calls Apple a rare 50-year success

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Apple is the sort of company that only comes along twice in a century, activist investor Carl Icahn said, addign that he was still pushing the group to use its cash to buy back more shares.

Speaking in a television interview on “Wall Street Week” on Sunday, Mr Icahn said he had not sold any Apple stock even though the value of the initial stake he took in August 2013 had almost doubled. He wished he had bought even more shares in the iPhone maker.

“Every 50 years, you get a company like this that has everything going for it,” he said. “I feel so secure with Apple that if it goes down, I just buy more, I don’t worry.”

After public pressure from Mr Icahn and others, Apple last week said it would increase the capital it returned to investors to $200 billion by the end of March 2017.

Reports CNBC.com

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