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Carl Icahn's Favorite Stock Is Apple, Says 'Oil Will Come Back'

Carl Icahn's Favorite Stock Is Apple, Says 'Oil Will Come Back'
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Investor Carl Icahn on Thursday appeared on CNBC and discussed a number of topics, beginning with oil.

Icahn said that he felt oil prices would go even lower and while he was not “happy about that,” due to his holdings in Transocean LTD (NYSE: RIG), it would provide “great opportunities in the future” as Icahn assumed consumption around the world would increase in coming years and that “oil will come back.”

The investor predicted that there would be great opportunities in the service areas when oil rebounds but in the short-term “there’s too much production and too much inventory.”

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As for shale plays, he thought some of them “will be great, others may not” as some companies and investors had not understood worldwide competition in the oil markets.

When discussing his holdings as an activist investor, Icahn noted that Apple Inc. (NASDAQ: AAPL) is his largest position. He commented that “Apple is my favorite stock,” he felt it is still undervalued, a “no-brainer” to own and that it is “extremely difficult to compete” with Apple.

Icahn also indicated in the interview that he is not interested in Twitter Inc (NYSE: TWTR).

Twitter closed Thursday at $38.09, up 4.8 percent.

Apple closed at $111.89, up 3.8 percent.

Transocean traded at $16.50 in Friday's premarket, up 1.4 percent.

Posted-In: Carl Icahn OilCNBC Long Ideas Short Ideas Markets Media Trading Ideas Best of Benzinga


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