Donald Yacktman, portfolio manager of the Yacktman Fund, recently declared that "Samsung is going to eat [Apple's] lunch." By the way, the brilliant portfolio manager Yacktman owns big positions in Dell, Blackberry, and Microsoft (but won't go anywhere near Apple stock). The technologically clueless Yacktman and his son are both portfolio managers at Yacktman Asset Management and both have college degrees in econ.
Yeah, Mr. Yacktman, you really got a bunch of tech "innovators" there in Dell, Microsoft, and Blackberry. LOL.
Some idiot was posting pre-market that Apple is not cheap enough, because it trades at valuation = 3X cash, vs. BBRY is at 2X cash. OK, but BBRY has not made a profit in years. So BBRY at 2X cash is absurd, it should be at 1/2 times cash given its losing money which will keep eating up the cash-pile.
Since Apple makes big profits, it should trade at alot more than 3X cash. 1X cash in Apple's valuation is just based on the cash, + 2X cash is divided by the huge Profits Apple makes of $50 billion EBITDA, and you're left with only about a 5.5 PE as ICAHN said.
That's fine, seriouslynot, Yacktman might know econ and maybe banks but tech stocks? It's guaranteed that technologically clueless Yacktman's not even remotely aware that the ethically-challenged copycat Samsoogle/Googsung duo are seriously thinking of dumping the fragmented, compatibility-challenged, malware-susceptible Android for their equally weak Tizen/Chrome OS's.
Even worse, Yacktman now has his fund stuffed with Dell, Microsoft, and Blackberry stock! Sheesh. (Remind me to never invest in the Yacktman Fund.)