Apple Inc. (AAPL) Still A Top Pick Of This Fund. What Does It See?

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The filing reported a position of just over 250,000 shares in eBay Inc (NASDAQ:EBAY). The stock carries trailing and forward earnings multiples of 26 and 17, respectively, as the financial community is expecting strong growth from eBay Inc (NASDAQ:EBAY)’s two business units- marketplaces and payments (eBay Inc (NASDAQ:EBAY)’s payments business includes PayPal)- as well. Last quarter the company’s revenue rose 14% compared to the first quarter of 2012, and margins expanded slightly with the result being a 19% increase in net income.

Toll Brothers Inc (NYSE:TOL) rounds out our list of Mark’s five largest holdings from the end of March. Just as with Lennar Corporation (NYSE:LEN), business has been doing well at Toll Brothers Inc (NYSE:TOL) recently and revenue rose over 30% in its last quarterly report compared to a year ago. Investors are getting a bit aggressive on this company as well, and in fact it is valued at 25 times consensus earnings for the fiscal year ending in October 2014; that valuation is probably too high for us to recommend buying the stock.

These look to be some generally bullish picks from Mark Asset Management. The housing companies have been doing well but we’d certainly advise investors against becoming too exposed to the overall economy. Similarly, we like Google Inc (NASDAQ:GOOG) and eBay Inc (NASDAQ:EBAY)’s growth prospects but aren’t convinced that current prices don’t already account for much of the expected upside. Apple Inc. (NASDAQ:AAPL) could very well be a value play, though the company would need to halt the decline in its earnings.

Disclosure: I own no shares of any stocks mentioned in this article.

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