"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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