| | | However, it was the turn for another legendary investor [some might say "notorious"] to make the same case today. Appearing on CNBC, Legg Mason's Bill Miller said:
The biggest no-brainer in the history of the earth -- that's what Apple is to me right now. It just makes no sense for Apple to trade where it is: Seven times enterprise value to free cash flow. 14%, in essence, free cash flow yield on enterprise value. 10% simple free cash flow yield. If Apple was a junk bond, it would trade 40% higher -- junk yields are 6 [percent]. Junk bonds are a contract, they have a claim, but they have a claim on, typically, a bad balance sheet.
Someone is listening; Apple's stock is outperforming the broad market today, with a 1.9% gain late in trading. |
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