The other thing I will not back down on -- and Einhorn did not seem to dispute -- is that he's in the business of maximizing his investments. While he did tell me that he's done well on his position, he's not concerned with the next $50 move in the stock, regardless of direction and, at this point, he has no plans to sell anytime soon. He still manages a hedge fund that needs to continue generating solid returns.
AAPL is down nearly 4% over the last year. It's off 13.5% year-to-date. That's not good for somebody like Einhorn, particularly when he believes in the company and intends to maintain his position in the stock. Apple can ease the brunt of this stock-related cold spell by providing other avenues for returns.
I won't even say, "Be careful what you wish for." Just simply reconsider exactly why you're wishing for it in the first place.Follow @rocco_thestreet -- Written by Rocco Pendola in Santa Monica, Calif.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV