With Apple trading at 12 times earnings and the rest of the market averaging 17 times earnings, is Apple a value stock?
The idea seems to be capturing the imagination of Wall Street pros as well as top Piper Jaffrey analyst Gene Munster.
Although the valuation has been cited as a reason to buy Apple for quite a while, with a rotation currently underway into value stocks, Apple bulls think the timing may be prescient, right now.
In other words, "Munster thinks that since Wall Street is bidding other value stocks higher, why shouldn't it bid Apple higher, too," Jim Cramer explained.
Bulls also say that Apple has great earnings momentum, as well as fantastic balance sheet and fiercely loyal customers.
If that isn't value, they say, what is?