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Carl Icahn: Buy more Apple stock and hold onto cash

CNBC Events - Delivering Alpha 2015CNBC Events - Delivering Alpha 2015
Carl Icahn, Chairman, Icahn Enterprises, at the 2015 Delivering Alpha Conference on July 15, 2015.Photograph by Adam Jeffery — CNBC/NBCU Photo Bank via Getty Images

Activist investor Carl Icahn is after more Apple (AAPL). The billionaire said in a CNBC interview Wednesday that he was “seriously considering” getting “a lot more” shares of the consumer tech giant.

Icahn also warned investors that it’s an important time to hold onto cash given current market risks. “I would say keep cash,” Icahn said in the interview. “You’re only making 1 percent on your cash – what’s better? Making 1 percent or losing 30%?”

Icahn owns over 53 million shares of Apple as of the second quarter, according to Reuters and SEC data.

The founder of Icahn Enterprises also used the occasion to reinforce his endorsement of top GOP candidate Donald Trump. “I think Trump has a shot,” he said.

He recently told Bloomberg:

I would say it’s an endorsement. I think at this moment in time, he’s the only candidate that speaks out about the country’s problems. I’m behind Trump. I disagree on certain points I don’t want to get into, I’m sure those can be worked out, but the basic thing is, you need somebody that can get things going in Congress, and I think he can do it. You need somebody that understands business, and I think he understands it.

For more on Icahn, here’s how much he made from selling the last of his shares in streaming service Netflix (NFLX) earlier this year.