Investors are falling for Apple again.
The shares have jumped around 26 percent from the low, although still trading in a bear market with equities at roughly 23 percent from all the time in October
Two market watchers agree with Mohan that Apple is a long-term positive bet and that the current pullb Ah creates an attractive entry point to buy the shares.
Chan tico Global Advisors & # 39; Gina Sancehz likes Apple based on the valuation, which she believes is inexpensive relative to the growth path.
"This company has continued to make revenue after earnings, and then I think if you look at it in the long run, I will consider it the value creation in the technology sector," she said on Monday at CNBC's "Trading Nation." very robust and I think that's what you need right now to enter the year. "
Many Apple bears have quoted to slow down iPhone sales as a reason to shed the stock. Apple bulls, on the other hand, have pointed to the growth potential of the service industry as the reason for owning the stock over the long term. good, no matter what way you value.
"I think there is a lot of talk right now that Apple is not going to focus on iPhone sales anymore, they should focus on services. Currently, there is nothing to look at the Apple stock. It is cheap compared to current mix or cheap, if it still focuses on wearables and services in its ecosystem. Anyway, it's cheap, she says.
Apple trades 14.8 times the next 12 months of expected earnings, according to FactSet estimates.
Oppenheimer's Ari Wald claims that it may take Apple some time to regain its former high, but it is in the long run on its way back in that direction. As the economy slows, Wald says, investors will favor high-growth names – especially in technology.
"The key that is positive in the long term is the top-down turn from what we see as a broad and relatively strong technology sector. Trading Nation. "
He doesn't buy the shares yet because of a key technical indicator. Apple's 200-day moving average is currently sloping sideways, he noted, meaning the stock may be reachable tied in the short term.
The key level Wald looks at is $ 185. If the shares can break it – as it did last November – he thinks a rally could be next, which is 3.4 percent higher than Monday's closing price on $ 178.90