“Here’s where it gets really interesting. As the latest round of 13F filings have fluttered in, hedge funds have been all over the map with regard to Apple,” Krishnamsetty and Mann report. “The tech giant was the smart money’s top consensus pick at the end of the third quarter, and despite its continued selloff, Soros and his team felt comfortable upping their stake by a little over 115% last quarter.”
Krishnamsetty and Mann write, “Even if a dividend boost or a lengthened share buyback are off the table, Apple still offers better growth prospects than Google , Microsoft and most other large-cap tech companies out there. The sell-side expects Cupertino to average earnings growth of 18%-19% a year over the next half-decade, and a PEG near 0.5 indicates Mr. Market isn’t anywhere close to accurately judging this potential.”
Read more in the full article here.
[Thanks to MacDailyNews Reader “Mike in Helsinki” for the heads up.]