Jeff Gundlach Warns Apple Could Go As Low As $300

Jeff Gundlach

Photo: CNBC

After Apple missed analyst earnings expectations this afternoon, bond god Jeff Gundlach, the CEO of DoubleLine Capital, joined the folks on CNBC’s “Fast Money” to discuss his $425 price target on the stock. He said the if the stock closes below $483 tomorrow, it could fall to $425 very quickly.

“I think it’s coming this year for sure,” he said.  “That’s an awfully long time window, I realise that.  The ways it’s looking now, it should probably happen this quarter.” 

What’s more is he said it could go to the $300 range.

Gundlach has been shorting Apple since April 2012.  He has said repeatedly that he sees the stock going to $425.

He said he’s impressed with the obsession people have with the stock.  

Shares of Apple were last trading down more than 6% in the after-hours session.

Watch the video below: 

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