Bill Miller, CFA, Chairman and CIO of Legg Mason Capital Management talks up his favorite stock, “My favorite is one that we’ve talked about before, Apple Inc. (NASDAQ:AAPL).”
Miller goes on to say, “Which is just completely crazy in the sense that Apple has $159 billion in cash on the balance sheet right now. If you assume they had no cash on the balance sheet and took this year’s free cash flow, it has a 10% free cash flow yield.”
“If the company were never to grow again; if Apple were a junk bond, junk yields are 6%. If Apple were a junk bond, it would be 40% higher than it is today.”
Watch the video below as Bill Miller talks up his favorite stock:You are viewing an abbreviated republication of ETF Daily News content. You can find full ETF Daily News articles on (www.etfdailynews.com)
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