Apple Inc. (AAPL) is at its ‘Max Fear Point’: Hedge Fund Manager

Apple Inc. (NASDAQ:AAPL) is the top stock pick among the hedge funds we track; that’s no secret. Here’s a full list of the money managers who are invested in Apple Inc (NASDAQ:AAPL) at the end of last quarter. Now, what all of these investors have in common is their support of Cupertino as a shareholder, but it’s possible for different bullish opinions to surface. Let’s take a look at one hedge fund manager in particular.

On CNBC earlier today, Eric Jackson of Ironfire Capital was discussing the stock’s recent sell-off. He had a rather behaviorist take on Apple, mentioning (emphasis added):

“Apple always oscillates between the two extremes of fear and greed, and right now I think we’re kind of hitting that max fear point, with people all worried about margins and what the future products will be. What only shatters that fear and gets people greedy again […] is when people realize that the […] new product portfolio [is] going to be much bigger than they expected.”

Regarding Apple Inc. (NASDAQ:AAPL)’s iPad Mini, Jackson mentions that the device’s potential is still “widely under-appreciated,” adding that “there’s an opportunity for huge growth […] this coming year.”

What else does the hedge fund manager expect from Apple Inc. (NASDAQ:AAPL) in 2013?

Jackson added that he believes Apple will release an “iTV” around the same time frame that Gene Munster originally predicted (see 3 Things That Can Boost Apple Next Year), but also mentioned that he thinks we’ll see “a surprise […] that we haven’t anticipated before.”

In Jackson’s opinion, the new offering could have something to do with Apple Inc. (NASDAQ:AAPL)’s partnership with General Motors Company (NYSE:GM), which will begin offering “eyes free” Siri-assisted voice control next year. Unofficially dubbed the “iCar,” Apple expected to partner with Mercedes, Toyota, Honda, Audi, BMW, Chrysler and Land Rover as well. Here’s our full coverage of Apple’s future in the automobile.

In the CNBC broadcast, it is mentioned that Eric Jackson sees Apple potentially reaching “$900, $1000 a share sometime in 2013.” In accordance with an article we published last week, this forecast would make the hedge fund manager slightly more bullish than the typical Wall Street analyst, who currently averages a price target of $740.

For more Apple Inc. (NASDAQ:AAPL) coverage, continue reading below:

Apple’s Valuation ‘Doesn’t Make Sense’: Analyst

What is Apple’s Secret Hedge Fund Buying?

Two Top Tech Minds Discuss Future of  Industry’s Giants