02-25-2015, 01:33 PM
(02-25-2015, 10:30 AM)Dividend Watcher Wrote: Wow, R2R, I really misjudged that one. Hope it continues.
Magna is a gem. The company is still severely undervalued (PE 12, Forward PE 10, PEG 0.76). Recently they reduced their forward guidance for 2015, but for the long term, its a great play.
Last week they sold their battery business to Samsung (who apparently wants it to get into the car industry possibly competing Apple) and Apple has been rumored to be in talks with Magna's Austrian arm Magna-Steyr about partnership to build Apple's electric car since Magna already has the resources and the technical know-how building cars for almost every major auto manufacturer in the world.
Magna is also a play on the European economy, btw.