Apple Inc. (AAPL): My Price Target Continues To Be $350
BillionairesPortfolio.com: I have consistently warned investors not to buy Apple Inc. (NASDAQ:AAPL) and spelled out many reasons why you should sell the stock immediately throughout the collapse. Recently, I said Apple would go nowhere until we have a market correction of more than 10% or more. The reason for this is market leadership changes when there is a market correction, and that the stock would reach $350 during the next correction.
The last thing I want to do is crow when people are hurting, and I promise you I am not. Because I do not own a share of Apple Inc. (NASDAQ:AAPL), I am not short or have ever been short Apple nor do I own any options on Apple.
And what they have been telling me and what I have been telling you for the last two months, on at least five different occasions is Apple was a broken stock with poor momentum, and none of the Billionaire Hedge Funds wanted anything to do with it.
You didn’t want to listen even when I told you that David Einhorn, who is known with the hedge fund industry as extremely overrated as he has under-performed the S&P 500 (NYSEARCA:SPY) for 5 straight years (any other hedge fund or mutual fund would have been out of business if they had that record), was not going to change Apple’s fortune. Mr. Einhorn has gone into hiding since he stopped his Apple lawsuit.
Another reason Einhorn has gone into hiding is he owned a ton of Gold (NYSEARCA:GLD), and actually made fun of Warren Buffett for saying Gold was a poor investment. Yes, Mr. Einhorn just a few months ago said Gold was a great investment and Buffett was an idiot for not wanting to buy Gold.
My point in all this is that I am here to educate and help you to become a better investor.
I get my information from some of the top hedge funds in the world and then I pass it onto you.
How do I do this? I used to be one of those guys. I have been a Partner and a trader at a Billion Dollar Hedge Fund and went to school at Johns Hopkins and University of Chicago, with people who are now some of the best traders in the world.
So that’s why I use my contacts from my education and experience to find out what the Billion Dollar Hedge Fund money is doing. What are they buying and what they are selling. It’s that easy, and trust me folks it works.
Be careful out there, the markets have become more volatile (NYSEARCA:VXX) and I am hearing some really interesting insight from some of my trader friends at major billion dollar hedge funds. I would love to tell you what they are saying, all you have to do is listen.
Learn more about me and how we follow Billionaire Investors into stocks by visiting the Billionaires Portfolio.
Editor of The Billionaires Portfolio
Related ETF: Technology Select Sector SPDR (NYSEARCA:XLK)
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