Apple Inc (AAPL)

Closed at $175.28, and his model price is $217.08, a 23% upside. Trump is only going to tax 11% to bring all their foreign cash back. Dividend yield of 1.4%. (Analysts' price target is $192.50.)

Long-term this is definitely a stock you want to own. Its ecosystem is so massive, it touches 3 generations. You have 75-year-olds getting on iPads, and then they are brought into the ecosystem. That’s very powerful when they have that many users. Right now, there is a little noise on the market with a lot of tech stocks. There could be a pullback on this, but he could see it being a $200 stock in a year. Also, they’ll be repatriating cash back from overseas.

He doesn't feel this could add a lot of value. It’s very hard to have a strong view. If the sales of the iPhone 10 are better than expected, then there is going to be a price mix effect that could cause them to beat expectations. The problem is, if the price and volume are not as good as might be, then it is fairly valued. The question is, how much upside is there if you get it right. Expects not enough to be comfortable in believing it is going to beat the market. Wait for them to finish the successful product launch and for people to get bored, before getting involved.

Great company obviously. Given where we are in the iPhone cycle, thinks now it’s time to take some profit and look for a better entry point in 2018 or beyond. From here, it’s hard to see what will backfill that growth in 2018. Thinks it’s better to take some profits now. Sees better opportunities in the supply chain and in names like Broadcom (AVGO-Q).

Has over 1 billion installed devices, and a 93% loyalty rate. They have a lot of foreign cash, $51 per share. 30% of the total market share is in cash. Trades at about 15X earnings, but if you take the cash into account, it is about 12X. Dividend yield of 1.4%. (Analysts' price target is $193.)

Trading at a very reasonable valuation. Tim Cook has been a great custodian for the business. They haven't really done anything super bold. They have so much cash, trading at a reasonable valuation. Tech land still has very reasonable multiples and this company is very reasonable within that. Thinks there is still more to go.

(Market Call Minute.) If you own this, continue holding as you will get the refresh cycle with their new phones. It has a lot of cash. Going forward, she wants to see more innovation.

He took advantage of the share price appreciation and sold his holdings. They’ve done a great job. His concern is that they are predominantly a hardware-sales cycle thing, and consumers can be quite fickle when it comes to consumer electronics. He would like to see more innovation from them. There is still a significant portion of Apple users that don’t pay for any applications, so maybe there is something they can do on that side.

Alphabet (GOOGL-Q) or Apple (AAPL-Q)? He recently sold this. His main concern is that it is primarily a hardware play. You are looking at 62% of revenues coming from the iPhone. The iPhone has been doing well, but that can change on a dime. They have competitors out there. It doesn’t seem anyone is going to overtake them in the near term, but there are some out there who have been doing pretty decently.

Sold his holdings at around $160 in October. The story hasn’t changed, he still likes it, and is looking for an entry point. Any time you see a stock appreciate 50% in a year, it is ripe for some sort of correction and pull back. This is a name that is going to do very well in a portfolio in the long-term. If you are a “buy and hold”, you could buy it and hold for the long-term, but if you are a little more tactical, buying it on a dip is a better way to make money.

This is all about the iPhone. The reviews are in, and the iPhone 10 is gargantuan. There is so much potential from both the 8 and the 10, but on an earnings perspective, the PE is around 13X earnings when you X-out the cash. Dividend yield of 1.5%. (Analysts’ price target is $193.)

An amazing, incredible success story. He doesn’t own this because the iPhone accounts for about 55% of revenues. Samsung (005930-KRX) is spending a ton of money to come up with competing products, as is Google (GOOGL-Q). When you have so much of your company based on a single product with the company priced to perfection, that implies risk so he looks elsewhere.

What price would you pay for this? This has been a fine performer. The challenge you have buying a substantial holding, is a little problematic because of how fast the company has grown. The market in many cases is pricing in the continued growth, the capital repatriation story. In the next 3-5 years, the company is going to run into the challenge of how much further it can grow. At these levels, he thinks you are fine because the US tax issue is going to be carried.

An inexpensive company. Filled with cash, but has lots of interesting catalysts. Their recent iPhone 10 is really interesting, as it gives them the only true integrated platform for augmented reality, which could turn out to be much bigger than people think. Margins are strong when looking at services, and is growing very rapidly.

This has really outperformed the market over the last year or so. Product launches are a big part of it. Things just shift so quickly in this space that it is not something she is participating in.