CNBC perpetuates a myth that Gundlach holds views on Apple that hold value. Anyone paying attention knows he's a zero on Apple. Here is what he said today followed by what he said in October. He's a bond trader reading the writing on the wall for bonds and trying to develop a name for equities.
Apple Closes at $600.96, Though Gundlach Sees Not Much Upside
By Tiernan Ray
Shares of Apple ( AAPL) are holding onto gains, in fact nothing a new day high, up $6.91, or 1.2%, at $599.49, despite lukewarm words this afternoon from noted Apple bear of 2012 Jeff Gundlach, who suggests there’s relatively little upside to the current stock price.
Gundlach, bond guru with DoubleLine, was speaking with CNBC’s Scott Wapner from the sideline of the Ira Sohn investment conference in New York.
Said Gundlach,
Wapner: I’ve got to go, but i would be remiss if i didn’t, coming off an interview with carl [Carl] Icahn talking about Apple as the stock that sits about $600, get your take on it.
Gundlach: we’ve talked about apple in early january. I said it might make its way to $600 this year. I think the sort of fairly radical steps they took support the stock from an investor standpoint. So maybe it goes a little bit higher. I wouldn’t look for much over $600, though.
Update: Shares of Apple closed up $8.38, or 1.4%, at $600.96, after touching a $601 52-week high, and gaining strength into the close. The shares are up 33.6% in the last 12 months, and up 7% this year. It is the first time the stock has closed at $600 or higher since October 26th of 2012.
JEFF GUNDLACH: I Disagree With People Who Say Apple Is A 'No-Brainer'
Read more: wallstcheatsheet.com
Jeffrey Gundlach, the CEO and CIO of DoubleLine Capital, became the latest major investor to weigh in on Carl Icahn’s perspective on Apple( NASDAQ:AAPL) stock. While talking about Apple during an appearance on CNBC earlier this week, Gundlach stated that, “I disagree with people who say it’s a no brainer.”
“That might have been true at $400, but no longer at $500,” added Gundlach.
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