Apple has not lost its shine, at least according to ARK Invest CEO Cathie Wood.
Though Apple shares have fallen nearly 10 percent since the start of October, Wood isn't shaken. In an interview with CNBC on Tuesday, she said the stock is currently in the bottoming phase. The company's installment plans and Apple Watch will cause an upside surprise.
Apple's installment plans allow users to pay for unlocked new iPhones for a monthly fee — starting at $32.
"This could turn Apple's revenue model into more of a recurring revenue model, which would really help their valuation," Wood told CNBC.