Jeffrey Gundlach, the CEO and CIO of DoubleLine Capital, became the latest major investor to weigh in on Carl Icahn’s perspective on Apple (NASDAQ:AAPL) stock. While talking about Apple during an appearance on CNBC earlier this week, Gundlach stated that, “I disagree with people who say it’s a no brainer.”
“That might have been true at $400, but no longer at $500,” added Gundlach. Although Gundlach didn’t refer to Icahn by name, the billionaire investor has famously said more than once that investing in Apple is a “no brainer.” Icahn is also pushing Apple to expand its share buyback program by borrowing $150 billion in funds.
Gundlach isn’t the only investor to disagree with Icahn’s characterization of Apple stock. Billionaire investor Wilbur Ross recently told CNBC, “I’m not absolutely sure that no-brainer trades exist. I have a tough time finding no-brainer trades. There’s usually a reason why somebody’s on the other side.”
However, Gundlach apparently isn’t against owning Apple stock. “I like Apple okay, I think it’s a fairly safe thing to own,” he stated via Barron’s. Gundlach is perhaps best known for making a famously accurate call when he began shorting Apple in April of 2012 when it was still trading for around $610.
Icahn’s views on Apple have generated plenty of commentary from other major investors. Although he didn’t mention Icahn’s “no brainer” comment, Berkshire Hathaway’s (NYSE:BRKA) (NYSE:BRKB) Warren Buffett recently dismissed Icahn’s effort to increase Apple’s share buyback program by saying, “I do not think that companies should be run primarily to please Wall Street and largely shareholders who are going to sell.”
Here’s how Apple closed out the trading week on Friday.
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