Einhorn Bullish On Apple, Says Could Be $1 Trillion Company
Greenlight Capital's David Einhorn is bullish on tech titan Apple (Nasdaq: AAPL), the largest U.S. company by market value.
At the Ira Sohn Conference, Einhorn said Apple is a "great company with a great balance sheet" and noted that the maker of the iPhone and the iPad, the world's top-selling tablet device, is a software company, not a hardware producer. He stated that there was no reason why Apple could not be worth $1 trillion dollars.
Along those lines, Einhorn noted Apple's iOS operating system is a value proposition. The noted hedge fund managed added "The real value of Apple is the software they put in hardware devices."
Einhorn also said he likes Amazon.com (Nasdaq: AMZN), noting the company has a better business model than traditional retailers, but he was also careful to say Amazon is hard to value.
Einhorn remains bearish on Green Mountain Coffee Roasters (Nasdaq: GMCR), one of his biggest winners year-to-date. He also is bearish on U.S. real estate investment trust and Dick's Sporting Goods (NYSE: DKS).
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