"Our thesis is that AAPL has a terrific operating platform, engendering a loyal, sticky and...

"Our thesis is that AAPL has a terrific operating platform, engendering a loyal, sticky and growing customer base that will make repeated purchases ... Unfortunately, there have been a series of disappointments," writes David Einhorn in Greenlight Capital's Q1 letter, defending his bullishness on Apple (AAPL) after a 17% Q1 drop. He also defends his lightning-rod efforts to get Apple to remove Prop. 2 and change its capital structure. Vodafone (VOD - 21% Q1 gain) is another name Einhorn remains bullish on, believing "substantial value" could still be unlocked if a Verizon Wireless deal happens, and speculating AT&T might buy what's left of the carrier. (previous)

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Comments (13)
  • rrosey2
    , contributor
    Comments (883) | Send Message
    I agree with Einhorn, and am buying more Apple every day.
    10 May 2013, 02:59 AM Reply Like
  • Lumia_920
    , contributor
    Comments (102) | Send Message
    Great. I am adding to my holding
    15 May 2013, 08:44 PM Reply Like
  • Esekla
    , contributor
    Comments (4464) | Send Message
    Disagree with Einhorn on VOD. As per my article, divesting Verizon Wireless would only expose the weakness in the rest of Vodafone, especially now that the Indian situation is exposed as FUBAR. This scenario has played out several times over the years, and Vodafone simply doesn't want to do it (and rightly so).


    10 May 2013, 07:17 AM Reply Like
  • vinchainsaw
    , contributor
    Comments (538) | Send Message
    Thats only because you havent run the numbers or arent looking at this through a value investors eyes.
    If you did, you would see that a sale at 130/140bn values the rest of Vod's business on a ridiculously low PE (2/3).


    The Indian issues then becomes a detail in the greater scheme of things.
    10 May 2013, 07:46 AM Reply Like
  • SP5524
    , contributor
    Comments (86) | Send Message
    How many telecommunication companies have you been an executive for?
    10 May 2013, 09:00 AM Reply Like
  • nguyenvanphuoc
    , contributor
    Comments (388) | Send Message
    Somebody out there disagrees on AAPL - short interest appears to have doubled recently. Takes a big pair to short in the face of the huge buyback underway.
    10 May 2013, 07:22 AM Reply Like
  • milehr
    , contributor
    Comments (682) | Send Message
    ... or a computer algorithm.
    10 May 2013, 08:34 AM Reply Like
  • rrosey2
    , contributor
    Comments (883) | Send Message
    Well, there's two sides to a short:


    1. Maybe someone knows something we don't know, and needs to protect a long position and not have to pay tax.


    2. A short can also be considered as a planned "buyback" because it has to be bought in. Perhaps at a much higher price.
    12 May 2013, 05:19 PM Reply Like
  • Clayton Rulli
    , contributor
    Comments (3408) | Send Message
    ATT would never be allowed to buy VZ wireless are you joking? They didnt get Tmobile, why would VZ be any different
    10 May 2013, 11:08 AM Reply Like
  • sws1967
    , contributor
    Comments (109) | Send Message
    I recommend buying AAPL if it is going to go up and selling it if it is going to go down.
    10 May 2013, 12:56 PM Reply Like
  • vtitarev
    , contributor
    Comments (17) | Send Message
    im buying June 22/350 put
    11 May 2013, 02:23 AM Reply Like
  • Lumia_920
    , contributor
    Comments (102) | Send Message
    would like to contact back on June 22nd. Target $480+
    15 May 2013, 08:44 PM Reply Like
  • blam24
    , contributor
    Comments (120) | Send Message
    I respectfully disagree with Einhorn on VOD. VOD's recent acquisition of Kabel Deutschland, potential EU changes in how roaming charges are applied and the problems in India that were previously cited are all reasons why AT&T would shy away from a VOD acquisition move. AT&T has other options to consider in order to participate in the European wireless sector. I believe that VOD is more than fairly valued at today's $35.80/share because of Einhorn's comments on Bloomberg TV.
    2 Oct 2013, 12:28 PM Reply Like
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