Business

Dan Niles sees dangers in Apple. Right here's how he's taking part in 5G buying and selling as a substitute

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People visit the Ericsson booth during Mobile World Congress (MWC) Shanghai 2019 at Shanghai New International Expo Center on June 25, 2019 in Shanghai, China.

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Hedge fund manager Dan Niles told CNBC on Friday that he wanted to play the growth of 5G by investing in chipmakers and other telecommunications companies instead of Apple, which has just released its first iPhone compatible with the next generation wireless network.

"Apple is not a good value for the growth you're getting," AlphaOne Capital Partners founding partner told Closing Bell, expressing concerns about the company's stock price appreciating significantly without robust sales growth.

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Steven Gregory