GUNDLACH: Apple Is Dead Money

Appearing on CNBC this afternoon, the DoubleLine Funds CEO said he now has a neutral view of the stock after shares in the tech giant reached his goal of $500 — and he admitted that it wouldn't have even gotten to that level if not for Carl Icahn's recent comments that he was long the stock.

Instead, he said, shares will now slowly drift upward and stay range-bound in the low $500s. The stock was trading at about $495 this morning.

"All the easy money has been made," Gundlach said, adding, "It's kind of dead money."

Gundlach famously recommended shorting Apple near the top, warning that the innovator was gone.