He cut his price target on Apple twice during the week but retains a "buy" recommendation. He said the stock could drift lower until a new catalyst gets investors interested in the stock again.
The ultra-bullish Brian White of Topeka Capital Markets sees three potential catalysts — greater cash returns to shareholders, a deal with China Mobile and an Apple TV to turn around Apple's stock. He slashed his target price from $1111 to $888, still implying the stock could double.
(Read More: Apple Suppliers Slammed, but Experts Say Buy)
Shaw Wu, Sterne Agee senior tech analyst, also said Apple is still "a very good growth story" and where the stock is trading "is a great level as an investment for investors with a longer-term horizon." But in the near-term he said the company needs to regain investors' trust.
Other analysts are turning more neutral on the stock, however. Jefferies analyst Peter Misek downgraded the tech giant from "buy" to "hold" and cut its price target from $800 to $500 per share. (Disclosure: Jefferies makes a market in Apple securities)
"It appears they lost the screen size war," he said in a CNBC interview. "They don't have a 4.5 or greater inch smartphone and that's costing them in certain parts of the market."