Investor buys back into Apple because Tim Cook has Trump’s ear and more

Michael Potuck for 9to5Mac:

Managing partner at Short Hills Capital, Steve Weiss, shared in an interview on CNBC that despite being a critic of Apple and Tim Cook in the past, he’s repurchased AAPL and that it’s “one of the bigger positions” for the investment firm.

Two of the reasons Weiss is bullish on Apple is he likes that Tim Cook has the ear of President Trump and the company’s more aggressive approach.

Steve Weiss told CNBC that the first reason he bought back into AAPL was that Tim Cook is unique in being able to have Trump’s ear while also recently moving back some production (Mac Pro) to China.

He sees the purchase of Intel’s modem business as a strong and positive move. Weiss believes 5G coming to iPhone in the future will spur a big upgrade cycle in the future.

MacDailyNews Note: The CNBC interview:

[Thanks to MacDailyNews Reader “BD” for the heads up.]

9 Comments

  1. Someone should remind Mr. Weiss that it is more prudent to buy low and sell high.

    I realize this is a foreign concept to MDN with its buy buy buy BUY mantra.

    Before you attack me for the gall of proposing that AAPL, like every other stock, does not climb endlessly forever, please refer to trends and tell us all if the miraculous Trump tax giveaway pushed the market up or down? Up of course. The sugar high before the decline. Word to the wise: check your assets allocation instead of betting too much onto any one horse.

  2. Here’s how Apple can reach $350 a share, according to this tech investor“This story could be a $350 stock over the next couple years, and I think they are going to surprise people on this earnings power,” he told CNBC late Tuesday. Doubts on what Apple could deliver have been in part due to the dark picture of smartphone demand painted by some rivals.

    1. “I think” the television talking head says.

      All based on what? One more tweet from Magnificent Donald setting the next “real” deadline for massively increased tariffs (for real this time) could crater AAPL tomorrow. Or are other US corporations supposed to sit by and allow Apple CEO to manipulate the short-term-thinking prez into giving Apple special waivers? Is that the market Americans want, cronyism????

      If the administration actually does what it repeatedly threatens, then Apple stock will tank with every other importer of Chinese stuff.

      If the administration backs down against China, they will rightly be called out for being weak assed bluffers and Trump can kiss his 2020 campaign byebye, and who knows what the market will do.

      If the administration gives Apple special treatment, then lawsuits will be pouring in, and rightfully so. All entities should be equal under the law without any government regime picking winners. AAPL will tank if they are found to have received unfair government treatment.

      Still expecting $350 this time next year? Go ahead and iCal it.

        1. Goebie, you have never published any of these results you are so proud of. You can’t and won’t define the metrics of greatness. Why? Aren’t you proud to show the sudden inflection in trends from malaise to greatness? You should be able to show everyone charts without any date labels, and the audience will see exactly when the Trump Train left th station.

          What, Fox didn’t give you that data? No wonder that all the world hears from Trump fans are isolated snapshots that change by the tweet. As soon as Trump’s policy delivers a shitpile on one measure, your party propaganda machine changes the subject to Epstein or Greenland or whatever. There is no consistent hard work showing continuous progress on any issue. Trump delivers nothing but reality tv drama, Fox blowhards provide excuses and partisan attacks, and that’s enough for you. Well independent voters are not impressed.

          Campaign promises have been broken time after time, and then debt is out of control. Infrastructure is falling apart. Health costs are still spiraling up. Domestic terror goes completely unaddressed. The markets are shaky and trade us plummeting. Trump owns the economy now, and U3 employment numbers alone do not make for a great future. Trickledown didn’t work, again, as always. Got it? It’s the economy stupid. It was never as bad as you claim it was last decade, and we’re all staring at another recession now. The tweets and the golf and the petulant baby act and then Peanuts Lucy football of tariff acts need to stop.

  3. Apple went up one-cent today, so thank you Mr. Weiss for your purchase. Don’t buy into Apple based on such specious crap. Buy Apple if it drops and hold onto it until you need to sell. I’m holding it for the dividends and that’s about it. I have no reason to sell my Apple stock when I have other stocks to sell. I wouldn’t count on Apple going up to $350 for having dining partners unless new Services revenue really kicks in and new iPhone sales don’t completely tank.

    However, buying Apple because Cook and POTUS are dining together seems like a pretty lame reason. Is Satya Nadella dining with POTUS? No, and yet MSFT’s market cap and P/E are much higher than Apple’s because big investors simply have confidence in the company. If Apple could show it has great growth potential then Cook shouldn’t have any reason to dine with POTUS and ask for special favors. At one time, Apple was a cash flow champ and now it’s sucking Microsoft’s hind tit when it comes to Wall Street’s favoritism. I’m sure any of the FANG stocks rate higher than Apple does in terms of growth potential as far as Wall Street is concerned.

    1. Microsoft does not know for having smartphone manufactured in China like Apple. Two total different business models. The comparison between Apple and Orange is lamed. Enough said.

  4. $350 in a year. A ~50% increase from today. Huge reward. That must also mean huge risk. No?

    Unless this is where reality distorts and more modest, but still respectful gains are realized fueled by this bullshit.

    I have no position in any company due to the so many shenanigans.
    If you want to gamble with whether Trump lies to Cook, or anyone else, that’s your right.

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