Apple's Stock Run-up Gives Some Experts Pause

This is definitely not the time to buy Apple stock, according to Marketwatch Columnist John Dvorak. As for selling, there still may be some upside to the stock, so waiting is a good idea, Richard Parower of the Seligman Global Technology Fund said.

Parower said the stock price doesn't reflect the new iPhone, which is set to launch on June 29th.

Parower talked about a rental video content available for Apple devices, along with the launch of a new Apple video player possibly by the end of the year. Apple desktops and notebooks are also doing "extremely well," he said.

Though Parower thinks there is 20% upside to the shares that are already up about 35% over the past three months, Dvorak believes that rethinking stake in Apple is a good idea, especially if the iPhone doesn't perform well.

"I think this thing is going to peter out eventually if the iPhone doesn't become a big, super success," Dvorak said.