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Can Apple Drive the Markets?

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  • Description

    Nuveen co-manager for large-cap strategy Hal Goldstein weighs in on the market selloff and Apple.

  • Duration 5:25
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Well apple expected to unveil a mini I've -- momentarily Wall Street is once again get excited about that tech titan.

But what is it mean for the company which has cost more than eighty billion dollars in market value over just the last month and should you have apple in your portfolio.

How Goldstein is that hope.

Manager for new mean asset management's large cap growth opportunities fund which actually holds apple -- its largest holding.

And he says Apple's still ripe for the picking up these to have how joining us now but before we get to apple the story unfolding before us -- The other big story fortunately is the sharp sell -- -- was planning to earnings but.

What's your take.

-- hi Lauren thanks for having me us.

You know I think the DI environment is is just full of mixed signals obviously the earnings and -- the earnings season hasn't gotten off to a very good start at first people thought it was.

Okay with earnings coming through all right -- really revenues.

Were missing.

Across the board -- and revenue -- downs were happening really quite frequently so.

-- clearly one of the negative.

Items out there is the his earnings season that's a upon us so you say obviously -- -- the -- -- about the weakness -- not just the domestic economy but the global economy.

Well sure I think that that's.

-- the reality that were were operating within is that -- -- challenging earnings environment -- there's a challenging economic environment.

Out there notwithstanding that however there are some hopeful signs.

You know one of them is -- US housing environment which is definitely getting.

Somewhat shorter obviously we have the Central Bank.

Easing -- Easy monetary policies from central bankers around the globe and so.

Frankly for the stock market I learned a long time ago that one of the best environments he is one in which there -- ample liquidity without.

-- -- how -- -- -- -- and I don't monetize this we're just -- time constraints we have all the breaking news analyst overtime but politics going in there.

You know.

You think about the positives and he weighed in against negatives obviously and so much of our attention today's focused on apple as we wait the new product announcement.

Apple has had such success over such a long period -- time and it continues to.

Really be a market driver a lot of people characterize apple almost as an asset class in in of itself.

Is that enough though for the broader markets and you can eat it can't do it alone do understand where I'm getting at.

Well sure I mean I look I think well as relates to technology and we invest in technology quite a bit as a large cap growth fund.

There are.

Enormous changes going on all at once right I but I think they are generational and their nature.

It doesn't happen changes always out there and there are risks and their opportunities but all -- once we've got the movement to mobility from fixed computing.

We've got e-commerce taking.

Greater market share from bricks and mortar retailers we have the cloud services.

Phenomenon in the enterprise with the digits -- -- nation of -- All of that is creating.

Uncertainty but it also creates risks an opportunity and its impact the every one of these companies so.

Is apple enough to drive the market on its own -- -- certainly it's not but there are number of companies that are benefiting.

From these newer opportunities even if there are some companies that are -- poorly positioned.

Great art let me coming here because -- getting breaking news from the -- not get your comment specifically on apple house so we're learning that troubles introducing new thirteen inch MacBook Pro that's basically a laptop.

It's going to have better display so says CEO Tim Cook.

So apple shares as you know how are down Apple's one of the biggest holdings the biggest holding.

Being your find the new -- large cap growth opportunities fines.

I would divided this little short and how much.

You know I definitely what the the approach that we have for investing is to look for companies that -- -- exceptional growth companies.

These are companies that have above average historic organic revenue growth.

Visible prospects for that growth to be sustainable.

Tested management teams.

And outstanding financial characteristics with which to.

One that growth opportunity that they've got and if you covered up the name apple clearly the company possesses all of those characteristics.

He thought.

-- my angle and there's a second holding -- it was a news that they apparently mistaken earnings release to that value at all sure.

Hey you know what that the early release was was unfortunate but that's not the core reason why.

There's controversy around Google but look the controversy like for so many of these companies.

Is the movement from desktop.

Searching and their case to mobile search and and whether that's a mixed change that is.

An opportunity or are very negative -- here are some who fear that that's a big negative were.

Positive on Google because it's taking share of the global advertising pie and it continues to do yourself.

And you made a great point about the future of technology and how much potential there is for growth how Goldstein many thanks.

Okay.

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