Apr 24, 2014 - 05:15 PM EDT — AAPL: 567.77 (+43.02, +8.2%) | NASDAQ: 4148.338 (+21.372, +0.52%)
“Here’s the bull case (#longread) on Apple for those whose faith is shaken,” Bruce Upbin reports for Forbes. “It was largely written by Mitch Rubin, a veteran growth fund manager who has held the shares in his RiverPark Large Growth and RiverPark Long/Short Opportunity funds’ top ten for years. Like many of us who have owned it for a while (I own some through my wife’s brokerage account), he’s had a great run but is sitting on a 35% hit from the fall highs. The hyperbole in the media (Forbes is just as guilty) is turned to 11. Time to turn to facts.”
“[For the tl;dr crowd] Apple is the cheapest growth stock you will ever own, and will generate more cash (on top of its current cash) than its entire enterprise value over the next three years,” Upbin reports. “What growth buyer wouldn’t want a cheap stock? What value buyer doesn’t want a company that materially grows cash? What contrarian investor doesn’t want a stock that’s hated? As Rubin says, ‘Nirvana.’”
Full article here.
[Thanks to MacDailyNews Reader "David E." for the heads up.]