With the stock back above its 200-day moving average, Strategic Wealth Partners' Mark Tepper says the 'ecosystem is incredibly strong,' while Blue Line Futures' Bill Baruch says he's bullish on the name but investors should wait for a better entry.
All eyes are on Apple ahead of Monday, when the company is expected to debut a new streaming TV service and a bundled subscription Apple News offering.
Shares of the tech giant have bounced nearly 40 percent since sliding to a 52-week low at the beginning of the year, but are still in correction territory with the stock roughly 16 percent off its October all-time high. "I think it just took the market and analysts a little bit of time to digest this strategy shift where they're going from selling iPhones, which was decelerating, and they've been shifting toward more of a focus on the wearables and services. And when you talk about services that's all recurring revenue and high margin," Tepper said Thursday on CNBC's "Trading Nation.
Ultimately he argues that the tech giant may not be the"growth company that it was 10 years ago," but that it still"absolutely" belongs in investors' portfolios.
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