Apple's dip not an 'appetizing' entry point: Pro

Apple's margins better than expected?
Apple's margins better than expected?   

Apple shares plunged Monday, but still didn't go low enough for one market pro to add more shares to his position even though he thinks the stock will move higher.

"I want to see a little bit more weakness before I call it a really appetizing entry point," Hugh Johnson, chairman of Hugh Johnson Advisors, told CNBC's "Power Lunch."

The Apple stockholder said he's looking for an entry point somewhere between $100 and $110 per share.

That said, "I'd still buy Apple. Long term its fine right at current levels," he noted. "But what I'm looking for is a much more enticing entry point."

Read MoreHere's why Apple shares took a dive: Pros

On Monday, Morgan Stanley trimmed its position in Apple by 1 percent. Apple shares dropped 6 percent before making a slight recovery.

Johnson, who recently raised his price target for Apple to $135 from $122, called the tech giant "a real winner."

"The relative performance of the stock is great. The margins are looking great. They're doing a great business and as a result we really can't catch up with it. We keep raising our targets and so long as they keep performing well, we'll keep raising our targets," he said.

Dislcosure: Hugh Johnson owns shares of Apple

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