Gundlach Presses His 'Short Apple' (AAPL) Call, Shares React

Shares of Apple (Nasdaq: AAPL) are under pressure today and some are blaming the weakness on negative comments made by DoubleLine Capital's Jeffrey Gundlach at yesterday's Ira Sohn conference.

"I just wonder how many people will queue up around the block for an iPad 87," Gundlach said today.

These negative comments on Apple are not new for Gundlach.

On March 8th, he said:
"one of my favorite generational shorts is Apple... the rainmaker is gone, and I don't see people lining up all night for iPad 482."

On April 26th, he said:
"If I were one of these crazy hedge fund guys, with the slick haircuts and fancy shoes and racing stripe shirts, the trade I’d put on is 10-times-leveraged natural gas long versus 10-times short Apple."

Shares of Apple were $541.99 on March 8th when he first mention he was negative. Subsequently the shares ran up to $644. But today, with shares at $533, Gundlach is looking good on his short.

Taking the other side of the trade, David Einhorn said at yesterday's conference that the stock deserves a higher multiple.

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