Legendary investor Peter Lynch kicks himself for missing Apple when even tech skeptic Warren Buffett bought the stock years ago
Lynch delivered an annualized return of 29% over 13 years as the manager of Fidelity's Magellan fund, and grew its assets under management from about $20 million in 1977 to $14 billion by 1990.
The"One Up on Wall Street" author recalled his daughters once bought an iPod for about $250. He remembered thinking at the time that Apple was probably making a $200 profit on each music player it sold, and the company had a solid balance sheet. "I should have done some work on Apple," Lynch said, noting it wasn't a complicated business and the iPod paved the way for the iPhone.into Apple between 2016 and 2018. The stock has more than tripled since then, boosting the value of its stake to about $150 billion.
Buffett's company ranks among Apple's biggest shareholders with a roughly 5.8% stake. It also counts Apple as easily the most-valuable holding in its $300 billion stock portfolio.
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