“Sanford Bernstein senior equity analyst Toni Sacconaghi said Thursday he agrees with the assessment of Apple’s stock value by Jeffrey Gundlach of DoubleLine,” Fred Imbert reports for CNBC. “‘If you adjust for cash, and look at cash flow, its cash flow multiple is more like 10 to 11 times. The market’s at 15 to 16 times, so it’s trading for a significant discount,’ Sacconaghi said in a CNBC ‘Squawk Alley’ interview.”
“Sacconaghi made his remarks a day after Gundlach said the tech giant’s stock is ‘reasonably priced,'” Imbert reports. “Nevertheless, Gundlach added that due to its size, investors may not be able to compound their growth.”
“‘The [Apple Watch]? I don’t know if that’s really going to set the world on fire,’ Gundlach said,” Imbert reports. “Regarding the wearable, Sacconaghi said, ‘It’s really important to realize that this is the first generation and the first iteration, and there isn’t a compelling use case for the watch today.'”
Read more in the full article here.
MacDailyNews Take: Regarding the Apple Watch, which we’ve now been wearing every waking moment for the last 2 months and 23 days, it doesn’t sound like either Gundlach or Sacconaghi have worn an Apple Watch for even 2 minutes and 23 seconds.
Those who wear Apple Watch understand very well that the uses are compelling and myriad. Those who’ve only read about Apple Watch or seen it in TV ads sound exactly like Gundlach and Sacconaghi. Just as in the early days of iPhone, there are the Haves and the Have Nots. The iPhone users understood what was coming, that everyone would want one soon enough, just as Apple Watch users know it today.
Go get yourselves Apple Watches and actually use them before giving your next interview, boys. Parroting back snippets of planted FUD makes you sound silly.