Gundlach: Apple ‘a broken company’

“Apple stock could be headed to a level of $425 per share this quarter, DoubleLine CEO Jeff Gundlach said after the company reported disappointing earnings Wednesday,” Bruno J. Navarro reports for CNBC. “‘I think this is really a broken company that is over-owned,’ he said on ‘Fast Money.’”

“For the fiscal first quarter, it posted net income of $13.07 billion, or $13.81 a diluted share, compared to $13.06 billion, or $13.87 a share, a year earlier,” Navarro reports. “Gundlach also said that Apple stock remained ‘very, very much in the public’s psyche,’ which would keep share prices artificially high.”

Read more in the full article here.

MacDailyNews Take: Apple yesterday reported the fourth quarter of the most profitable year of any publicly-traded company. Ever.

[Thanks to MacDailyNews readers too numerous to mention individually for the heads up.]