GAMCO's portfolio manager, Larry Haverty was on Bloomberg to discuss his views on Apple (AAPL, Financial) after the recent 20 percent decline from its high of ~ $705
Summary:
-- At 7x trailing cash flow, Apple (AAPL) is very attractive.
-- He thinks fears about subsidies getting reduced from major phone companies are overdone.
-- He thinks iPhone 5 will do exceptionally well in China. Those fears are overdone as well.
-- iPhone 5s are not selling well at AT&T; that fear is overdone and Haverty has visited stores that are out of stock on the phones.
-- Apple stock is so cheap and Apple has lot of cash.
-- Apple should seriously consider buying back their stock.
Credit and Source: Bloomberg
Here is the video:
Summary:
-- At 7x trailing cash flow, Apple (AAPL) is very attractive.
-- He thinks fears about subsidies getting reduced from major phone companies are overdone.
-- He thinks iPhone 5 will do exceptionally well in China. Those fears are overdone as well.
-- iPhone 5s are not selling well at AT&T; that fear is overdone and Haverty has visited stores that are out of stock on the phones.
-- Apple stock is so cheap and Apple has lot of cash.
-- Apple should seriously consider buying back their stock.
Credit and Source: Bloomberg
Here is the video:
