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The Apple Bull Emerges

Halftime Report's Stephanie Link is doing something she hasn't done in nearly six months - she's overweight Apple in her portfolio.

"For the last 6 months I've been underweight so I've been buying in the low $90s, mid $90s, even today a little bit," said Stephanie Link, Portfolio Manager at TIAA. "I think it's cheap."

Shares are down nearly 30% from its 52-week high and investors are paying attention. Apple is up more than 6% in the last week.

"The stock has been trading between $93 and $97 for a little while," said Pete Najarian, the Co-Founder of Najarian Family Office. "Now is the next leg higher."

The Apple Catalysts

"These are some of the things in the next couple of months that could take Apple higher." -Stephanie Link, TIAA Portfolio Manager

Apple a Consumer Staple

Josh Brown argues that instead of looking at Apple as a growth stock, it should be viewed as a consumer staple.

"It's a product that we upgrade every 18-24 months," added Josh Brown, CEO of Ritholtz Wealth Management. "If you're an Apple person, you're an Apple person and price is not that important."

Apple is "Cheap"

Brown adds that on a valuation basis, Apple is cheaper than other mega caps.

"Companies like Kimberly-Clark and Coca-Cola, have the similar dividend and growth rates but are 20x earnings while Apple is only 10x earnings," said Brown.

Viewers Weigh In

We asked you to weigh in on Josh Brown's argument that Apple is a consumer stock. Here's what you said:



Stephanie Link, Josh Brown, and Pete Najarian own Apple stock.