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Billionaire Carl Icahn, who first disclosed his stake in Apple Inc. almost three years ago, has sold out of his position because of concerns about the company’s relationship with China, the activist said Thursday. “We no longer have a position in Apple,” Icahn told CNBC. Icahn sold most of his remaining stake in February, he said. “I got out because I’m worried about China.” Icahn perceives a risk in Apple’s relationship with China and that made his already profitable investment in the company no longer a “no-brainer,” he said. China shut down Apple’s iTunes Movies and iBooks services recently, showing that the company isn’t immune to the reach of Beijing regulators. “You worry a little bit, and maybe more than a little, about China’s attitude,” Icahn said. Apple has a good relationship with China, providing vast employment there, but also relies on the country for lots of sales, he said.

Source: Billionaire Icahn Exits Apple Stake After Three Years – Bloomberg