Billionaire Carl Icahn exited his Netflix Inc. stake as the stock doubled this season to lead the Standard & Poor\’s 500 Index and also the video-streaming company announced a regular split.
Apple Inc. now represents exactly the same opportunity Icahn saw in Netflix several years ago, the investor said in a tweet.
Sold last of our $NFLX today. Believe $AAPL currently represents same opportunity we stated NFLX offered several years ago.
— Carl Icahn (@Carl_C_Icahn) June 24, 2015
Netflix\’s market capitalization has soared eightfold to more than US$40 billion since 2012 as the company expanded its pioneering Web-based TV service to more than 50 countries and registered more than 62 million subscribers worldwide.
The service has evolved from being solely a buyer of shows and movies to become one of the active producers of TV, documentaries and films, with a long-term budget that approaches $10 billion, based on filings.
The 7-for-1 split takes effect July 14 and it is payable to shareholders of record as of July 2, the Los Gatos, California-based company said Tuesday.