RaduTyrsina
News Team
Apple makes a lot of money and that's they main reason why it's such an attractive target for potential stock investors. And according to a recent story run by the Reuters publication, it could get even better than that.
Steve Einhorn, a top executive at Leon Cooperman's $10 billion hedge fund Omega Advisors Inc., along with other investors, said that gains in shares of Apple Inc could take the world's largest publicly traded company to a market capitalization of $1 trillion.
Speaking at the Reuters Global Investment Outlook Summit in New York, here are some of the most important things he mentioned:
"It's an attractively priced, double-digit returner."
"We own it, and we like it."
"The company could reach the trillion-dollar mark, eventually"
In a previous intervention, billionaire activist investor Carl Icahn, has urged the company to buy back more shares using its $133 billion cash pile, saying that the company remains undervalued:
"Apple is one of the best companies I would say of the last few decades, It's like a no-brainer to buy your own stock back."
Michael Corcelli, head of the Miami-based Alexander Alternative Capital also said that Apple's market capitalization could reach as high as $1 trillion next year:
"Absolutely, without a doubt. "Right now Apple is the most obvious thing that has to go up,"
Source: Reuters
