First, he stood behind the purchase of everything Star Wars related, and now he is personally standing behind a company he publicly and privately believes in.
On Wednesday, news came to light that Bob Iger – chief executive of Disney and a member of Apple’s board of directors – has purchased $1 million in shares of Apple.
The investment comes as AAPL attempts to recover from shedding 20% from it’s all time high in September.
Iger must be listening to the sage counsel of many Wall Street analysts who now believe Apple is a great discounted buy.
According to Brian White, an analyst at Topeka Capital Markets:
“The sell-off in Apple’s stock over the past eight weeks has gotten to the point of being ‘insanely insane’ given the depressed valuation, new blockbuster products for the holiday season, the attractive long-term growth opportunities that lie ahead and the company’s ability to distribute significant cash flow to investors.”
White is holding steadfast to his 12-month AAPL price estimate of $1,111.