Carl Icahn: Buy more Apple stock and hold onto cash
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%?”
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.
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.