Apple and EarthLink stock remains an attractive investment, according to financial investment whizz, Charles Lemonides.
In a Business Week Online article, Lemonides asserts that Apple stock is a "bargain". He adds that the company's stock should be at around the $45 mark. "He values Apple's operating assets at $30 per share and its cash and marketable securities at nearly $15," Business Week reports.
Lemonides is the chief investment officer of ValueWorks Capital management, an investment brokerage firm. In 2000, funds under his direction gained 6.3 per cent of value, following 39 per cent gains in 1999. His company's success reflects the fate of the Nasdaq index, which fell 39 per cent in 2000 and gained 86 per cent in 1999.
The report repeats Leminides' belief that Apple will break even in its 2001 financial year, and looks forward to the company returning "very favourable" profits in 2002.