When Apple, Inc. (NASDAQ: AAPL) was at $500, $600 and even $700 per share one noted bear yelled from the top of the mountain that the stock was a "short of a lifetime."

That bear was DoubleLine Capital's Jeff Gundlach.

At that time many didn't give credence to Mr. Gundlach's call and chalked it up as just another disgruntled investor that missed the Apple boat.

Well, Mr. Gundlach's ship has come in and he is getting the last laugh as today Apple hit his $425 price target.

Gundlach has been critical of product innovation at Apple, specially the iPad mini. "When you just change the size of your current product, innovation just isn't there," he said. "What's next a tutti-frutti iPad mini?"

Shares of Apple last traded at $424, down 1.5 percent.

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