Tiger Management’s Julian Robertson loves Apple
|November 4th, 2010||
|In an interview on CNBC this morning, Tiger Management’s Julian Robertson revealed that he remains hot on Apple Inc. (AAPL). Robertson believes that the company’s stock price could potentially surge to 25 to 30 times earnings over next 12 months. He said that such a high valuation is not inconceivable, since Apple is quite possibly the greatest company in the world. |
Apple Inc opened today at $315.11 and is currently trading around $319.75, up 2.2%. The company’s PE is at 21, indicating that a 25-30 range would constitute a significant jump in value for shareholders. In the interview, Mr. Robertson also indicated that he had recently purchased an iPad, although he was still learning how to use it.
Julian Robertson is a renowned hedge fund manager that founded his multi-strategy firm Tiger Management Corp in 1980. In 2000 Tiger Management ceased managing assets for external investors, although since then Mr. Robertson has seeded a large number of successful hedge funds, which are commonly referred to as “Tiger Seeds.” Some of the more notable Tiger Seeds include Chase Coleman’s Tiger Global Management, Bill Hwang’s Tiger Asia Management, Manish Chopra’s Tiger Veda Management and Robert Jafek’s Torrey Pines Capital Management.
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