GUNDLACH: I'd Rather Own Apple Than Short It

Jeffrey GundlachJeffrey Gundlach

Jeff Gundlach, the head of DoubleLine Funds, caused a stir last year when he announced he was shorting Apple and that he saw the stock tumbling to $425.

Well, that prediction came true, and Gundlach further solidified his reputation as an investment god.

Today, Gundlach spoke with CNBC’s Scott Wapner from the SALT Conference in Las Vegas.

Gundlach told Wapner that he had closed his short position.

“Apple isn’t expensive at all,” said Gundlach referring to the stock’s recent market price.

He was then asked if that meant he would buy the stock.

“I’m not positive or negative,” Gundlach responded.  “I have moved on.

But given six month time horizon, Gundlach said he’d rather own Apple than short it.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.