Apple Inc.
Thesis
Bill Nygren mentions that they owned Apple for a long time, and it was consistently selling at less than a market P/E multiple, indicating it was undervalued despite being a growth company.
Did it work?
inconclusive
confidence: low
The pitch is a long thesis based on Apple trading below a market P/E multiple despite growth characteristics, implying expected valuation convergence. However, no price performance data is provided and the time elapsed since the pitch is unknown, so there is no way to measure whether the undervaluation actually closed or the stock delivered the anticipated return. Without either a measurable return or a confirmed thesis event tied to this specific pitch window, the outcome cannot be judged.