Value Investor Aswath Damodaran Kicked $APPL to the Curb Near The Top, Now He Sees Value

“Aswath Damodaran, the legendary NYU finance professor, started accumulating shares of Apple in 1997.

And just under a year ago, he dumped the stock.

“I sold because I’m very uncomfortable with the other people who are holding Apple shares right now,” he said in an April 2012 appearance on Bloomberg Television. “The new investors of Apple scare me.  They’re momentum investors.  They’ve shifted the game. Once stocks become a momentum play, intrinsic value goes out the window.”

Apple was trading above $600 per share back then.  And today it’s right around $440.

And in a new blog post, Damodaran has revealed that he is bullish once again.

“Based on my estimates, and they could be skewed by my Apple bias, at its current stock price of $440, there is a 90% chance that the stock is under valued,” he writes….”

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