The needle on Apple shares has barely budged in the past 52 weeks, but that doesn’t mean much to Mark Yusko, chief executive and CIO of Morgan Creek Capital Management.
In a phone interview with CNBC, Yusko said he believes Apple’s stock price could double, most likely in the next 18 to 24 months. Yusko cites a strong ongoing product cycle and the company’s ability to take share in China.
Even with a 2.7 percent rise as of Wednesday afternoon, Apple’s stock remains at around $116 per share, the same levels as a year ago.
Yusko also said he prefers Apple over some other big household tech names.
“We’ve got Facebook, Amazon, Netflix and Google — all have had these huge runs, and I think maybe taking some chips off the table with Amazon and replacing with Apple is a great idea here,” he said.
Goldman Sachs also added Apple to its “conviction buy list” on Wednesday, telling investors that share prices could rise by 43 percent over the next 12 months.(Christina Medici Scolaro)
Link: http://www.cnbc.com/2015/11/18/apple-shares-could-double-morgan-creek-ceo.html
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