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Apple Shares Make a Comeback

Tuesday, 17 Apr 2012 | 1:11 PM ET

Apple shares have made a comeback after five-straight days of decline, their longest losing streak since October.

The iPad maker is up more than 3 percent Tuesday to $602, after closing down 4 percent on Monday. The company is down about 10 percent from its record high of $644 on April 10.

Despite the recent dips in Apple stock, analysts remain optimistic.

Apple has room for long-term growth potential, Tavis McCourt, who covers Apple for Raymond James, told CNBC. Apple is a strong buy and maintains a price target of $800, McCourt said.

"The magic of Apple stock is they are vertically integrated, which means they capture a very large margin pool, which means they can make a lot of money without having a lot of unit share in any given market," McCourt said. "As long as that application ecosystem continues to grow and continues to be a better ecosystem than Android or Windows phone, there is a lot of room for this company to continue to grow over the next few years."

email: tech@cnbc.com

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