Apple Inc (AAPL)

Apple (AAPL-Q) or General Electric (GE-N)? Two completely different plays in different segments of the market. This has had a great run recently. Thinks this has gone through a crisis period and came out very well. iPhone 6 is selling very well. Have a great brand recognition. He thinks people continue to underestimate and undervalue things like iTunes and the software in general.

If you own, taking some money off the table is always a prudent decision. Doesn't feel this can keep going up at the rate it has been. Likes the products and the valuation. Cash flows are great. Thinks people are getting carried away by expectations of the holiday season.

Nothing wrong with it. He was skeptical they would be able to come out with new products. He has an iPhone 6. It has never been the value. You are okay keeping it here. Switch out if you see a fundamental reason.

This has been a core position for his clients for almost 9 years. He still likes it. Management is very shareholder friendly. Trading at about 13X earnings. If you incorporate the cash that they have, it is trading at about 11X. Still good value.

A great company that has done incredibly well over the last little while. About 55% of their revenue comes from one product, the iPhone. With the bigger phone, it is going to eat away at the iPad business. The last thing they have been doing is financial engineering by buying back more shares, paying a bigger dividend, etc. The phone is really the thing that drives this company. It is probably more in a slow growth phase.

Today's short-term reversal has more to do with the upcoming Fed announcement. It has had a good run as of late. He likes this and just bought some. Feels it is worth significantly more. The ecosystem works phenomenally, i.e., once you have one product, the other products work seamlessly.

Trading at about 15X near market valuations, but better than the market growth rate. Still a pretty good name. Trading at under 1.0 PEG ratio, which is pretty cheap. Thinks the valuations are getting more normalized at this point.

A Top Pick Nov 28/13. Up 27.14%.) Doesn’t think the iPad is the real mover of the company. He still thinks it is the iPhone. Valuation ex-cash is still cheap.

Valuation, net of cash, is about 11 times. This compares against the market of about 14 times. Thinks you could easily see 20%-25% earnings growth over the next year. When you see a company trading at 30%-35% discount to the market, with double its growth, this is quality on sale.

She is not thinking of adding this to her portfolios as it has had a nice run into their product announcements. It will probably have a pretty healthy holiday season and it is launching in China now. She would wait for it to pull back closer to its 200 day moving average of $86.72.

A very good hold. Don’t sell it to buy something else. It continues to be very attractive. They have overcome some of their issues like innovation. They are convincing the street there is innovation in their future. The watch will get some traction as a category in sensory items. The bill payment system will be a very big area of Apple’s future. The phone is a refresh item, but a big source of cash flow with sales of a 100 million units. A very bright future. The other side is their capital allocation policy. It is going to share buy backs. He, however, likes it.

Steve Jobs was the heart and soul so when he died it did not remain the same company.

Double Dutch Irish tax scheme. It allows them to shelter their revenues through Ireland. If the worst came to the worst they might have to restructure. He would not get too shaken out on the stock based on this. His problem is that most of their business is the iPhone. It is very fat for them. He does not see them growing around the world from here. He also sees competition from guys with razor thin margins. Everything they are doing speaks for consumerism and not technology. If they continue to raise their dividend the stock could still work.

If you own, you’ve had a good run and would be probably wise to trim a little bit. However, overall, looking at the technology space, this looks really good. They do 2 things primarily. Produces consumers’ products, but also has the operating system which you can use across your iPad, iPhone, etc. Thinks they have a lot of leverage that they are starting to pull. Valuation is not ridiculous and they have a lot of cash.

In terms of the area of the market that this is in, NASDAQ has proven itself over the last several months to continue to be the leader through this mid-cycle turn. The sector has a lot of things going for it. The refresh for Apple is going extremely well. If you own, she would continue to ride it.