U.S. Markets open in 4 hrs 59 mins

Miller says Apple's stock may be undervalued by 50%, FT reports

Apple (AAPL) could be worth 50% more than its current stock price indicates, The Financial Times quoted mutual fund manager Bill Miller as saying. Apple is much more similar to Nike (NKE), "a consumer brand with great loyalty," than it is to BlackBerry (BBRY) or Nokia (NOK), Miller stated, according to the newspaper. Apple's stock rose after the article was published a short time ago, and is now up 1.5% to $465 on the day.