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: