Market Insider

Apple stock getting its mojo back

VIDEO1:4701:47
What's behind Apple's return to form

Apple stock looks like it's getting its juice back.

And analysts say it could continue to gain even if it doesn't announce a futuristic sounding plan to turn the iPhone into a remote control for everything in the home, as reported this weekend in the Financial Times.

Apple stock has popped 18 percent since reporting earnings just five weeks ago, ten times the gain in the . At the time, it also announced a 7-for-1 stock split, dividend hike and bigger share buyback, which have also helped boost its stock.

"I think there's still another leg up here, once these new product categories come out. It was over penalized on the way down. The simple answer is I don't think it's overvalued," said Gene Munster, who follows Apple at Piper Jaffray.