Laszlo Birinyi, who first bought Apple in 1997, says the stock is still a buy and so is the market

Laszlo Birinyi, president of Birinyi Associates Inc.
Simon Dawson | Bloomberg | Getty Images

Stock guru Laszlo Birinyi says his decision to buy Apple in early 1997 was his best trade ever, and in his view, buying Apple now is still a good call.

It certainly has paid out handsomely for the long time stock analyst, who also says he likes the stock market here and has a next target of 3,500 on the S&P 500. Apple's high in 1997 was just over $1. On Tuesday, it was trading at a high of just above $500.