Apple Inc.
Thesis
Julian Robertson believes Apple is the world's cheapest stock, suggesting that if it had existed in the 1970s, it would be trading at five times its current value. He is considering shifting his TIPS into Apple due to its growth potential.
Did it work?
The thesis was a long bet premised on Apple being dramatically undervalued with roughly five-fold upside potential, but the stock has instead declined 29% since the pitch — a substantial move against the stated direction. While no explicit time horizon was given and the elapsed time is unknown, a drawdown of this magnitude directly contradicts the core claim that Apple was the world's cheapest stock with strong growth ahead. Confidence is medium rather than high because, without knowing how much time has passed, a deep-value thesis could theoretically still recover.