Miller is an old-fashioned guy, as you can tell from the attached video. He still believes in buying securities based on a company's intrinsic value. And right now, he told WeathTrack's Consuelo Mack in a two-part interview now available on YouTube, he's betting heavily on Apple (AAPL).
"What you have with Apple," he told Mack, "is a company which is among the cheapest companies in the market, it's the most profitable company in the world, it's got the biggest buyback in the history of the world, it trades at a huge discount to the market with returns on equity and capital which are among the best in the overall market, it's got an impregnable balance sheet, it's got a dividend yield that's pushing 3%, and they'll raise the dividend significantly we think in the spring or early summer. So what's not to like about this thing? If you care about valuation."
That's a big "if" when it comes to Apple.
The attached 2:30 clip is from an hour-long joint interview with ISI's Ed Hyman (here). There was no breaking news in what Miller had to say about Apple. But you don't always get the bull case pulled together so neatly in one authoritative sound bite.
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