Apple, Inc. (AAPL, Financial) is certainly one of the most rewarding stocks in the last decade. With one of the best CEOs around and the fanciest products, the price of Apple stock has grown from $7.5 in 2003 to $326 today. An interesting question to ask today is: Is Apple stock still a good investment?
It seems to be. Apple is the portfolios of 21 gurus we track, mutual fund and hedge fund types alike. Among them, Mark Hillman bought 70,072 shares in the quarter that ended on 09/30/2010, which is 4.62% of the $431 million portfolio of Hillman Capital Management. Daniel Loeb bought 150,000 shares in the quarter that ended on 09/30/2010, which is 4.46% of the $954 million portfolio of Third Point, LLC. Andreas Halvorsen bought 269,000 shares in the quarter that ended on 09/30/2010, which is 0.83% of the $9.24 billion portfolio of Viking Global Investors LP. David Einhorn owns 837,500 shares as of 09/30/2010, an increase of 168% from the previous quarter. This position accounts for 5.91% of the $4.02 billion portfolio of Greenlight Capital Inc. Steve Mandel owns 2,707,106 shares as of 09/30/2010, an increase of 20.26% from the previous quarter. This position accounts for 6.75% of the $11.39 billion portfolio of Lone Pine Capital. George Soros owns 247,584 shares as of 09/30/2010, an increase of 13.43% from the previous quarter. This position accounts for 1.05% of the $6.69 billion portfolio of Soros Fund Management LLC.
During an interview with Charlie Rose, David Einhorn, one of the best hedge fund managers of our time, answered the question from Charlie about Apple:
Charlie Rose: So you like Apple.
David Einhorn: Very much. Apple is an interesting company because it has arguably one of the best brands in the country. It's growing at an enormous rate. And the growth effectively feeds on itself because when you buy one Apple product, you want to buy another because they're so nicely compatible. The result is that businesses, which for a generation essentially avoided Apple products, are adopting them now because of the demand from the employees. They come in with their iPhones and they say, "I want you to support this with my e-mail." That's a powerful growth story. With the introduction of the iPad, it's sort of reaching a critical mass right now.
It is no doubt that Apple has had the greatest growth. As seen in the 10-year financials of Apple, its revenue has grown 30% a year in the last decade:
It seems to be. Apple is the portfolios of 21 gurus we track, mutual fund and hedge fund types alike. Among them, Mark Hillman bought 70,072 shares in the quarter that ended on 09/30/2010, which is 4.62% of the $431 million portfolio of Hillman Capital Management. Daniel Loeb bought 150,000 shares in the quarter that ended on 09/30/2010, which is 4.46% of the $954 million portfolio of Third Point, LLC. Andreas Halvorsen bought 269,000 shares in the quarter that ended on 09/30/2010, which is 0.83% of the $9.24 billion portfolio of Viking Global Investors LP. David Einhorn owns 837,500 shares as of 09/30/2010, an increase of 168% from the previous quarter. This position accounts for 5.91% of the $4.02 billion portfolio of Greenlight Capital Inc. Steve Mandel owns 2,707,106 shares as of 09/30/2010, an increase of 20.26% from the previous quarter. This position accounts for 6.75% of the $11.39 billion portfolio of Lone Pine Capital. George Soros owns 247,584 shares as of 09/30/2010, an increase of 13.43% from the previous quarter. This position accounts for 1.05% of the $6.69 billion portfolio of Soros Fund Management LLC.
During an interview with Charlie Rose, David Einhorn, one of the best hedge fund managers of our time, answered the question from Charlie about Apple:
Charlie Rose: So you like Apple.
David Einhorn: Very much. Apple is an interesting company because it has arguably one of the best brands in the country. It's growing at an enormous rate. And the growth effectively feeds on itself because when you buy one Apple product, you want to buy another because they're so nicely compatible. The result is that businesses, which for a generation essentially avoided Apple products, are adopting them now because of the demand from the employees. They come in with their iPhones and they say, "I want you to support this with my e-mail." That's a powerful growth story. With the introduction of the iPad, it's sort of reaching a critical mass right now.
It is no doubt that Apple has had the greatest growth. As seen in the 10-year financials of Apple, its revenue has grown 30% a year in the last decade: