Despite the fact that the Jan ‐ March period resulted in Apple earning a $10 billion profit, the overall quarter figures are ending at $50 billion. In 13 years, this marked the first quarter for the company where for the first time, the overall sales year over year had declined. Though in January the expectations were set back by the company, however the stocks still took the brunt after the reports of the week’s earnings was still released.

Carl Icahn who is the activist investor has been very vocal about what he feels the company has to do. While talking to CNBC, Carl who owned around a percent of Apple shares stated that most of the Apple stock that he had has already been sold. He also went on to say that he does not have any stock and mostly looks like there would be other investors who may get influenced and may just follow the lead.

It is not clear as to what the value was of the bulk stocks that was sold by Icahn however it could just be that he managed to get out right in time. Earlier in the year, the news had been flooded with Icahn however it was only though the disclosure that it was discovered that around 45.7 million Apple shares had been sold by the investor which had an overall value of around $750 million.

During his conversation with CNBC, Icahn also stated that Tim Cook, the CEO of the company is doing a really good job and before his exit, he had even notified Tim about it. He also stated that the reason for his decision of selling his stock is the views that China has about the company. He also added that the he felt that the Chinese government could make it really challenging for the company to sell in their market.