Tuesday, 23 August 2016
Last updated 1 hour ago
Jul 25 2014 | 2:54pm ET
Apple Inc. is one of the most widely respected and wildly successful companies in the world. Even at its sky-high valuation, some hedge fund managers, notably Carl Icahn, believe it is cheap. Noster Capital’s Pedro de Noronha isn’t so sure.
Noronha, in between criticizing streaming video valuations as “make-believe,” suggested that Apple’s day may soon be done.
“I need to know where a company is going to be in five-to-10 years,” he told CNBC. “I mean look at Apple, a company we all admire.”
“I don’t know where they are going to be in three years.”
“It’s a very competitive landscape,” Noronha said. “They might become obsolete in two-to-three years, as we’ve seen with dozens of technology companies.”