Stay Away From Apple: Worst Call Made By Big Money Managers In 2014

One of the star performers among large caps and among technology stocks this year, Apple Inc. (NASDAQ: AAPL), was predicted as a stock to stay away from by most big money managers in the beginning of 2014.

Bloomberg’s Betty Liu and Matt Miller discussed how most big money managers got their Apple call wrong this year.

"Apple was one of the stocks that big money managers said to stay away from. But look, if you would have stayed away from Apple, you would have lost out on a 37 percent return in a market that has only given you single digits this year. So, that was one of the worst call by money managers," Liu said.

Related Link: Why Hasn't Apple Released A New Apple TV?

Bet Against Interest Rates Understandable, But Why Bet Against Apple

Miller added, "We used to actually point all the time that it [Apple] was worth 10p percent of the NASDAQ and that any move in Apple would really move the markets […] I think one of the most interesting wrong way bets was people and it made sense you know, shunning Apple didn’t make any sense, but people who were betting that interest rates would rise really lost out. Why would you bet against Apple when all you are trying to do is load up on Apple products personally?"

He continued, "There was every reason to believe that interest rates would start to rise again. I mean, why would people continue to pile under the safety of U.S. government debt unlike the Apple wrong-way bet, which is why you would bet against Apple?"