Apple stock—under heavy pressure since being added to the Dow Jones industrial average in mid-March—remains a solid investment technically and fundamentally, two leading money managers told CNBC on Thursday.
From a technical trading standpoint, "it hasn't done anything too adverse so far," hedge fund manager David Gerstenhaber said on "Squawk Box."
"It's a large piece of the index. Unless you think the index is going down hard, and unless there's any negative news on Apple, there's no way the stock should underperform."
Apple was down 4.5 percent since its addition to the Dow, which overall has only lost 3 percent during that period. The S&P 500 index, also heavily dependent on Apple's performance, was off just 2.5 percent since mid-March.