Tiger’s Robertson says ‘extremely positive’ on Apple
NEW YORK – Julian Robertson, head of hedge fund Tiger Management, said Tuesday that he was “extremely positive” about Apple Inc and that Chief Executive Officer Tim Cook was the “perfect person” to lead the company.
“It, I think, now has the right leader for this time,” Robertson told cable television network CNBC.
He said it was possible that Cook was a better leader for Apple than previous CEO Steve Jobs, since Cook is “more of a humanist, and I think that’s what a company of that size needs is a leader rather than an innovator.”
Robertson said that the Apple Watch was not a key reason why he was bullish on Apple, but that he owned one and that it could be a “pretty good product.” The Apple Watch is the company’s first brand-new product under Cook.
Tiger Management owned 324,500 shares of Apple at the end of the first quarter, according to a Securities and Exchange Commission filing.
Fellow investor Carl Icahn, who owned about 53 million Apple shares at the end of the first quarter according to an SEC filing, said last month that the company’s stock should be trading at $240 and that Apple was poised to enter and dominate the television market by 2016 and the automobile market by 2020.
Apple shares closed 0.72 percent higher at $125.425 on Tuesday.
Asked whom he will support during the presidential race, Robertson said: “I think Jeb Bush has done a good job of managing Florida, and I’m pleased to support him.” – REUTERS