Jim Chanos is known for his short positions. However, he's now long Apple. Should you join him?
Apple has some very well-known investors betting on its stock.
Carl Icahn famously bought shares and tweeted about it. Bill Miller of Legg Mason is also a buyer. Now even Jim Chanos – known more for shorting stocks – is long Apple.
Appearing Wednesday on CNBC's "Squawk Box", Chanos was asked by host Andrew Ross Sorkin if his long position in Apple (and Samsung) was part of his overall strategy of shorting PC-maker Hewlett-Packard.
"Yeah," replied Chanos. "We think the Apple architecture right now is beating out the Wintel architecture."
Apple shares are down 8% in 2013 and have fallen 24% over the past twelve months. But, while these noted fund managers buying into Apple, is that reason to stake money on the tech giant?
On CNBC's Street Signs' Talking Numbers segment, two analysts tackle that question. CNBC contributor Gina Sanchez, founder of Chantico Global, looks at Apple's fundamentals. On the charts is Talking Numbers contributor Richard Ross, Global Technical Strategist at Auerbach Grayson.
Is it worth biting into Apple? Watch the video above to see what the fundamentals and technicals have to say about it.
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