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Rating:Gundlach Now Admires Apple's Free Cash Flow Machine Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, May 10, 2013

Gundlach Now Admires Apple's Free Cash Flow Machine

News summary by MFWire's editors

Jeff Gundlach isn't biting or spitting out Apple these days. Yet he likes the tech giant now.

Yesterday, TheStreet reported, the DoubleLine [profile] chief told CNBC that Apple is "a free cash flow machine" and that, for the next six months, he prefer owning Apple to shorting it.

At a conference last year, the star bond fund PM revealed a short position in Apple, predicting that it would fall to $425 per share. Shares eventually fell below $400, and two months ago Gundlach called Apple "oversold." Apple closed at $456.77 yesterday. 

Edited by: Neil Anderson, Managing Editor


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