Activist investor Carl Icahn this week said he will abandon his efforts to force Apple (AAPL) to buy back $50 billion of its own stock.
Barry Randall, who manages the Crabtree Technology portfolio on Covestor, told the E-Commerce Times he thinks Icahn is selling at least some of his stake in Apple.
According to the report:
Icahn is “selling, and at a higher price than what he paid,” Barry Randall, Crabtree Technology model manager on Covestor, told the E-Commerce Times. “It’s what he does — and it’s almost certainly why he’s dropped his non-binding proposal for the $50 billion share repurchase.”