The following is from prince Alwaleed Bin Talal's response in Money
magazine October, '98 issus:
Q: Let's talk about some of your US stocks. How in the world did you
know Apple was a good buy last year? A lot of people said this company is dead.
A: Apple is a typical example of what I do. It's a company I always
liked and admired, and it's an incredible name. You has COmpaq,
Hewlett-Packard, Dell, Gateway, but I'm telling you, the name Apple
is an incredible brand. It has customer loyalty, which is very
crucil. It produces good products. So I was waiting for the company
to put its house in order. And a few things have happened. Mr. Jobs
is almost full time there, and their latest product, the iMac, is
a smash. Apple is going through a major turn right now. It has the
worst behine and is going upward.
Q: What was your cost basis on Apple?
A: My average cost was around $17.5 to $18 a share, and now the stock
is around $39, so basically we doubled this.
Courtesy to Money Magazine.
Hmm..., it's an interesting assessment from the prince. I think his
5% of AAPL's total outstanding shares will be paid handsomely in the
future.
Phil |
