Market Overview

Hedge Fund Manager: Why Would Anyone Sell Apple?

Share:
Related AAPL
What China's iPhone Ruling Means For Qualcomm And Apple
Cramer Talks Apple's Monday Rebound, Says Jumpy Investors 'Will Take Their Cue From Anything'
Qualcomm accuses Apple of ignoring China ban (Seeking Alpha)

Rev. Emmanuel Lemelson is a weekly guest on #PreMarket Prep, a daily trading idea radio show hosted by Joel Elconin and Dennis Dick.

Hedge Fund Manager and Lemelson Capital Management Chief Investment Officer Rev. Fr. Emmanuel Lemelson told Benzinga's #PreMarket Prep that Apple Inc. (NASDAQ: AAPL) remains the "best brand in the world" and that there is "nothing wrong with the company," despite an 8 percent sell-off in the past month.

"If you look at the actual financials, why would you sell Apple?" Lemelson asked. He pointed to the fact that the company saw a 38 percent increase in profits at the last quarterly report. In that, every segment grew, except the iPad, and Lemelson said that purchase orders were also strong.

See Also: Fr. Lemelson Has Not Lost Faith In Apple, The 'Finest Run Company In Modern Economic History'

While he said that it was "extraordinary" to see recent volatility, Lemelson said that the moves do not make him nervous. Apple is one of Lemelson's largest positions.

In the future, Lemelson speculated that the iPhone 6S and 6S Plus would "keep breaking sales records," with the strong pipeline and base of users. Additionally, the company will benefit from strong purchase orders.

Year-to-date, the stock gained nearly 5 percent, less than the 6.8 percent gains in the Nasdaq 100 Index. The Dow Jones Industrial Average, however, has underperformed both, falling more than 2 percent.

Posted-In: Apple Emmanuel Lemelson Lemelson Capital ManagementLong Ideas Exclusives Tech Trading Ideas

 

Related Articles (AAPL)

View Comments and Join the Discussion!

Can The 'Musk Put' Work As Well As The 'Bernanke Put'?

How Ecovent Provides Room-By-Room Comfort By 'Learning' The Building