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Apple Inc. Message Board

  • bull_v_bear bull_v_bear Jun 27, 2013 5:01 PM Flag

    Gundlach

    "Apple has gone from being revered to nearly reviled," he said. "Now they are thought to be a tax avoider, and innovation is gone. The market has passed them by."

    Gundlach's response to Apple has been more muted. He disliked the valuation last year, and since it fell below $425 in early March 2013, he's been a buyer.

    "I don't have fantastic expectations for Apple, but I think it's a safe stock to own," he said.

    Moreover, he sees it as a hedge in his portfolio.

    "It goes up when the market goes down," said Gundlach. "A lot of stocks look like they've carved out a top. I think Apple looks like it's carved out a base."

    Gundlach says he'll remain a buyer of Apple at prices below $500. "It's cheaper than most stocks and is a solid cash flow engine for the foreseeable future."

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