Market Overview

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

Share:
Carl Icahn's Favorite Stock Is Apple, Says 'Oil Will Come Back'
Related AAPL
Here's What It Costs Apple To Make Your $1,000 iPhone X
Canaccord Breaks Down The Impact Of AMD's Radeon Exec Jumping Ship To Intel
DivGro Pulse: November 2017 (Seeking Alpha)
Related RIG
Jim Cramer Weighs In On Universal Display, Kinder Morgan And More
Oil & Gas Stock Roundup: TOTAL, Encana, And More
Let Universal Display Cool Down - Cramer's Lightning Round (11/17/17) (Seeking Alpha)

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.”

Related Link: Mark Cuban Likes Twitter More Than Google

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

 

Related Articles (AAPL + RIG)

View Comments and Join the Discussion!

Partner Center