Charles Lemonides, Chief Investment Officer with M&R Capital Management, is bullish on Apple. During an appearance on CNBC last night, Mr. Lemonides called Apple "a much better play" than Dell in response to a question from a CNBC viewer. Mr. Lemonides cited Appleis management which he said was "at least as good" as Dellis as one of the reasons he favored the companyis stock. Dell is considered to have some of the best management in the computer industry.
Appleis strong cash position was also cited. Mr. Lemonides said that Apple currently had some US$15 per share in hard assets, including the US$4 billion in cash on hand. This means that if the company was shut down in order to sell itis physical properties, the sale would result in some US$15 per share to the shareholders. Appleis stock has been trading in the low US$20 range for the past 10 days. Mr. Lemonides didnit mention that the companyis intellectual property portfolio is potentially worth many billions more. Apple holds thousands of patents in various technologies.
Lastly, Mr. Lemonides pointed out that Appleis P/E ratio was "dirt cheap," which he contrasted against Dellis. He characterized Dellis P/E ratio as "fair, at best." Mr. Lemonidesis portfolio that he manages for M&R Capital Management includes a stake a position in Apple.
Appleis stock traded lower today as Wall Street reacted negatively to Ciscois earnings report fro yesterday. AAPL closed at 20 3/4, off by 3/8 (-1.78%).
We will be covering Appleis stock action in todayis Apple Stock Watch. For other stories regarding Appleis stock activity, visit our updated Apple Stock Watch Special Report. You can also check out our Apple Financial Boards, a new moderated forum for Apple Investors and people who are interested in Appleis financial dealings.