“Apple stock is ‘not expensive at all’ DoubleLine Capital chief executive and chief investment officer Jeffrey Gundlach told CNBC in an interview Thursday,” Tom Bemis reports for MarketWatch.
“Gundlach, who started shorting Apple last year as it surged to a record high above $700, had said the stock would fall as low as $425,” Bemis reports. “‘It’s not the company it used to be… but it still makes a lot of money,’ Gundlach said, adding ‘I would own it… instead of shorting it’ for the next six months.”
Read more in the full article here.
MacDailyNews Take: It’s the same company that went to $705. You can say, currently, it’s not the stock it used to be, but to claim “it’s not the ‘company’ it used to be” just makes you sound stupid.
Make him sound even stupider ASAP, Apple!
Related articles:
Gundlach: Apple’s 40% plunge has singlehandedly debunked the efficient markets hypothesis – March 4, 2013
Apple’s all-time record quarterly earnings disappoint – January 23, 2013
After posting new all-time record revenue, Apple shares collapse in after-hours trading – January 23, 2013
Apple reports record results: $54.5 billion revenue, $13.1 billion profit, $13.81 EPS – January 23, 2013
Bond guru Gundlach slaps $425 price target on Apple Inc. stock – November 9, 2012
I saw the interview on television. He clearly stated that he is “not positive or negative on Apple”.
Maybe he means it’s not the company it used to be without Steve Jobs. Most of Wall Streets thinks that way so it not unusual for Gundlach to say something like that. It’s been said that Apple no longer has a Reality Distortion Field which was passed on to Jeff Bezos and Amazon.
Haha. Jeff Bezos and Amazon. Yea you might be right there. Something must have gone wrong in the transition and instead of Tim getting it Jeff got it. Now the world is messed up.
You gotta love it: … gee, it ain’t what it used to be, but, doggone, I’d own it…
Why is saying anything even sudo complimentary about Apple like pulling the very furthest back molars from a sharks mouth. Dang! [I’m reasonably certain sharks don’t have molars so need to go there.]
I don’t really trust people that short Apple.