“Noted bond investor Jeff Gundlach, who has been taking some aggressive short positions on Apple (AAPL) in past, was on CNBC just now to say that he thinks the stock, today off $1.47 at $547.56, is ‘in a consolidation period,'” Tiernan Ray reports for Barron’s.
“‘I think we’re going to hover around this level as long as the stock market stays locally reasonably strong,’ advised Gundlach, while reiterating the view he offered on the channel before, to wit, ‘I deeply believe, though, that Apple is headed to $425 per share,'” Ray reports.
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Full article here.
MacDailyNews Take: iCal’ed.
[Thanks to MacDailyNews Reader “mr_matalino” for the heads up.]
Could it be that he holds this belief deeply because he’s shorted the stock? What are his holdings with regard to AAPL? Does he have any disclosures to make?
His whole theses re Apple is that Apple will go down because it went up. Never mind earnings and cash went up substantially over the past 12 mos. Interestingly, his target is same as Abigail Dolittle espouses on CNBC. Here rationale is that Apple has to fill the Jan 2012 earnings gap up at about 400-425. Long held beleif among technicians that stocks always back fill price gaps.
Abigail Doolittle is a ding dong “chartist” who espouses lunacy with the likes of Guano, Enderle and Zabitsky.
Seriously, do any of these people have any idea what Apple really does other than provide a squiggly line on a chart? Apparently not.
I believe this guy “deeply” is just another clueless analyst who’s guessing in the wrong direction, again.
I think this guy was betting on “total” stalemate in DC. Now that the overall stock market did not fall off the “cliff,” he’s trying to cover his butt before Jan. 23rd nears.
Good point of view Ken–i completely agree, this guy doesn’t have a clue either
iCal for idiot call-out in the future, MDN!!!
Overt manipulation propaganda and about as near as you can get to actual insider trading and have clean hands.
You should see the comments on Barron’s. They rip Ray for giving the forum as much as Gundlach.
It is long over due that the government should investigate people like this for racateering ,corruption , stock manipulation and theft.. I am sick of jerks being permitted to use the media for their own gain.. How is this just and fair to investors?.. What are the trading positions this person and other analysts put in place before being permitted to engage the news media and internet to make their claims and rigged bets?.. You and I cannot do this.. There needs to be a complete overhaul and measures taken to to ensure honesty, ethics and put an end to games that screw the public investors out of their money.
He means after a split…
I assume Jeff Gundlach’s “front end equipment” is short, headed for down position and will stay there too.
my 2 cents…
I smell fear in those words! I hope he loses his behind and all his investors.
I said apple should have a stock split when it was around 700.
A stock split doesn’t make the company worth more but it does allow more people to buy the stock. Many people don’t have big chunks of spare cash to buy stock and psychologically people seem to like having say 5 one hundred dollar shares than one five hundred.
Right now aapl is mostly owned by big funds. Broadening the owner base means these funds can affect the stock price less by manipulation, portfolio balancing etc. Hedge funds with millions of dollars of aapl can now pull aapl up and down like a yoyo.
Apple has do stuff to help stop this otherwise small long term investors will stop buying aapl (like at the silly low P.E aapl has now).
Aapl at around 100 a share will I think help broaden the owner base considerably. I think there are lost of apple fans who would like to buy a few shares a month if it was around that price.
I could not agree with you more, sir or madam! YOU ARE RIGHT ON! It’s time to take AAPL out of hedge fund hands and put it into those of normal, small, long-term, rational, committed investors! No one I know will buy 2 shares of AAPL for $1000 (or so), but they WILL buy 20! That is human nature. Period. And no financial “wizard” can deny that reality.
AAPL has been split three times since 1980, and it is clearly time for another. This manipulation by the “big boys” has to stop.
That moron GM should a gander at this.
I did. I think he’s wrong. And you’re point that I should look at it is……………? Sorry you lost so much money in AAPL Willy. But you’re not very bright.