DoubleLine's Gundlach says firm sold some Apple shares - CNBC

NEW YORK Wed Feb 12, 2014 12:13pm EST

NEW YORK Feb 12 (Reuters) - Jeffrey Gundlach, chief executive and chief investment officer of DoubleLine Capital, said Wednesday that his firm had sold some Apple Inc. shares and that the yield on benchmark U.S. Treasury securities could fall further.

Gundlach told CNBC that he did not see Apple's stock price heading much higher. He also said that the yield on the benchmark 10-year U.S. Treasury note could fall to 2.5 percent.

"We should see the 10-year dip down to 2.50 or a little bit lower, Gundlach said.

The Los-Angeles-based DoubleLine Capital had over $47 billion in assets as of Dec. 31, 2013, according to the firm's website.