Jeffrey Gundlach, one of the world's top bond gurus, has taken a big swipe at Apple.
The bond fund manager is predicting that Apple's stock, down more than 20% since Sept. 19, could fall as low as $425 a share.
Shares declined $22.20, or 3.8%, to $558 on Wednesday. Just a couple of months ago, analysts were predicting Apple's stock could hit $800, possibly even $1,000, a share.
Gundlach, now chief executive of DoubleLine Capital, said in an interview with CNBC that he didn't understand everyone's "obsession" with Apple stock, which he began shorting in April.