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Doug Kass: Serious Issues Facing Apple Profit Growth
Posted by: Dheeraj Grover (IP Logged)
Date: December 11, 2012 10:44AM
Doug Kass, founder and president of Seabreeze Partners, was on CNBC to discuss his views on Apple (AAPL) and what he thinks of the stock now after the recent declines.
-- He thinks there are serious headwinds to Apple profit growth going forward.
-- He bought the stock at recent low of around $510, rode it to $565 and shorted it again at that price.
-- He also thinks that Apple will be range bound until the year-end. He thinks the recent sell-off is a result of people taking huge profits to avoid increased capital gain taxes next year.
-- Apple is not investable, and fundamental concerns are valid.
Credit and source: CNBC, www.cnbc.com
Here is the video:
Stocks Discussed: AAPL,