Julian Robertson Says Apple Reasonably Valued (AAPL)

Julian Robertson said that Apple Inc.

is reasonably valued, especially with an 18 times forward earnings. Robertson believes a 25 to 30 multiple on Apple is not unreasonable, as he called it "the greatest company" in the world. A 25-30 multiple would give Apple a share price between $400 and $475, sharply higher than where shares are currently trading. Robertson founded the investment firm Tiger Management Corp., one of the earliest hedge funds. He is retired now, and mainly invests in other funds started by Tiger Management employees.