Russia Is Now Better Than Apple Inc. (AAPL): Paul Gambles

Not one to shy away from a controversial wager, Paul Gambles says that it may be better to shun Apple Inc. (NASDAQ:AAPL) and bet on Russia at the moment.

The MBMG Group managing partner made the comment about Apple Inc. (NASDAQ:AAPL) and companies trading on The Moscow Interbank Currency Exchange (MICEX) in a discussion on CNBC.

The main contention of Gambles is that the prices of company stocks now in Russia make them very attractive investments. In contrast, he implies that the stock of the iPhone maker is expensive.

He even joked that the price difference between Apple and the whole of MICEX is that you can go buy the whole MICEX and have change to buy every man, woman and child in Russia iPhone 6 smartphones with the same money that would take to buy the whole of Apple Inc. (NASDAQ:AAPL).

“You’ve got to look at valuations as well […] but I’ll tell you what, the prices that are there right now, […] to me, at those kinds of prices, it’s starting to look that there is a […] a high-risk opportunity. There’s a play in Russia just because of the pricing,” he said.

Nonetheless, he did admit that a play in Russia is very much “speculative”. Nonetheless, he did say that he’d rather go with companies in Russia.

“I’d rather own Russia than an Apple [share], frankly,” he said.

Russia’s ruble is in trouble because of the nosedive in oil prices which has opened the floodgates of capital from the country. Sanctions because of the country’s annexation of Crimea from Ukraine have also contributed to this current tough spot for the country.

Apple Inc. (NASDAQ:AAPL) closed at $111.78 per share on Friday.

Apple Inc. (NASDAQ:AAPL) shareholders includes Ken Fisher’s Fisher Asset Management which reported owning about 10.74 million shares in the tech juggernaut by the end of the third quarter.