"Shark Tank" personality Kevin O'Leary is running to lead the Conservative party of Canada. Until then, he's the chair of the O'Shares ETFs and a frequent guest on CNBC.
On Tuesday, O'Leary explained his uber-bullish stance on Apple Inc. AAPL and why he will simultaneously be a seller of the stock.
According to O'Leary, Apple will be one of the largest beneficiaries of President Donald Trump's proposal to allow companies to repatriate offshore cash. O'Leary is hopeful this will translate to higher dividend payout for Apple's investors.
O'Leary suggested Apple's Services segment will soon account for more than 10 percent of the company's overall business. This would mark a very positive development since the segment boasts "finger-licking good margins."
Related Link: Exclusive: Can A Successful Investor-Turned-Politician Make Canada 'Wonderful?'
Finally, O'Leary is hopeful the upcoming iPhone 8 will be a smashing success, based on the constant stream of rumors building up anticipation and excitement.
These three factors combined are "driving the wonderful feeling" in Apple's stock.
O'Leary also acknowledged he might be forced to sell some of his Apple shares, but there's a logical reason to do so. As part of a disciplined portfolio management approach, he won't allow his Apple stake to exceed 5 percent of the overall portfolio.
Apple's stock traded recently at $136.53, a new all-time high.
Image Credit: Used with expressed permission from Kevin O'Leary.© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
