David Einhorn is one investor who will be closing 2014 on a high having seen his picks gain substantially through his $10 billion hedge fund Greenlight Capital. Apple Inc. (NASDAQ:AAPL) and Micron Technology, Inc. (NASDAQ:MU) remained his top picks for the year having registered impressive gains. Bloomberg’s, Simone Foxman, notes that Einhorn is slowly becoming an investor to reckon with whom the market is starting to listen to, having made some of the finest calls in the recent past.
“He tends to be really ahead of this plays and so he can buy in cheaply which is what he was trying to do in October and then ride out the wave. […] Last month it really was just his largest holdings were up quite a lot all 5% or more. You talking Micron Technology, Inc. (NASDAQ:MU) and Apple Inc. (NASDAQ:AAPL)’s all did really well,” said Mrs. Foxman.
Einhorn remains one of the top gainers of Apple Inc. (NASDAQ:AAPL)’s recent gains that have seen it clock all-time high in terms of market valuation. Apple’s impressive rally in the market has mostly been attributed to the magnificent refresh cycle of iPhone 6, which has seen the Cupertino based company rake in millions in unit’s sales.
Micron technologies is also enjoying one of its best runs in the market in the recent past having surged by 67% on a year to date allowing Einhorn to recoup a substantial amount of his investments from it. The increase in demand for PC’s has been one of the reasons Micron Technology, Inc. (NASDAQ:MU) has been surging in the market being one of the biggest suppliers of chips in the industry.
Investors who took the bold step and followed Einhorn in some of the calls are sure to have ridden with him in terms if gains. Foxman points out that Einhorn is becoming a fundamental stock picker in the market worth the respect.
Hedge funds might have underperformed for the better of the year, but not Einhorn whose picks according to Foxman justify his rankings as one of the best pickers of stocks in Wall Street.
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