Apple: A $600 value stock?

With Apple Ticker:(AAPL) opening up trading today at $600 per share - and up more than 500% since 2009 - it's hard to think of Apple as a value stock. But that may well be the case, according to one portfolio manager. In our Portfolio Manager Viewpoints webcast with Jim Kieffer of Artisan Partners earlier this week, the fund manager - Morningstar's top U.S. fund manager of 2011 -- Mr. Kieffer noted that Apple may still have much more room to grow. "You stop and you look at the facts," said Mr. Kieffer, noting that he looks at whether a company is currently at an attractive asking price for an investment, rather than strictly it's performance over the last decade. "It's an unbelievable cash machine...And it's quite possible that they're still in the early stages of their success here - whether that's product success or geographic success." To listen to the replay of the interview and Q&A with Mr. Kieffer - portfolio co-manager for Artisan Small Cap Value Fund, Artisan Mid Cap Value Fund, and the firm's U.S. value separate account portfolios - click here. --M.B.