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Tech Fund Manager: Worried About Apple

Fish: We're seen worse in tech earnings before

Shares of Apple have been under pressure lately, down more than 11% over the past six months and now back in bear market territory. The move has many investors worried, including one tech fund manager.

Denny Fish manages two three-star rated tech funds for Janus Capital. He joined the Halftime Report today to discuss the recent tech wreck. While he remains bullish on many of lasts week's big losers, including Alphabet and Microsoft, he's starting to worry about Apple.

Fish says "We are questioning what the long-term growth prospects is. If we can get comfortable with the that, obviously we would have it higher in the portfolio. For now it's our largest underweight."

While he doesn't look at Apple on a quarter-to-quarter basis, he is concerned with thisone: "this quarter will be the first time that iPhone units have been down year-over-year and they will be down significantly."

So where does he see opportunity now? Fish remains bullish on Alphabet, Microsoft and ServiceNow.