David Einhorn's Greenlight Capital has sold its remaining shares in Apple over concerns that China could retaliate to U.S. trade policies, reports CNBC."We ultimately sold because our differentiated thesis from 2011 has become consensus," Einhorn said. "We are somewhat worried about Chinese retaliation against America's trade policies."
In the previous quarter, Greenlight reduced its stake in Apple by 77% (486,000 shares) and then it sold the remaining shares on August 31st at $228. Since purchasing the stock in 2010, Greenlight says its clients have made over $1 billion on it. Apple shares dropped 2.4% on the news.
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