Oppenheimer's Ari Wald says Apple might be range bound for a bit, but Chantico Global's Gina Sanchez says the stock is a bargain.
div > div.group > p:first-child"> Shares of the tech giant were slightly higher in Tuesday's premarket, a day after soaring more than 3 percent on Bank of America's upgrade of the stock to buy. Analyst Wamsi Mohan said the recent"pullback presents opportunity" to buy the stock, citing factors like"modest re-acceleration in services" and"growth across healthcare, wearables and increasing services penetration" as reasons to own Apple .
Two market watchers agree with Mohan that Apple is a long-term positive bet, and that the current pullback creates an attractive entry point to buy the stock. Many Apple bears have cited slowing iPhone sales as reason to shed the stock. Apple bulls, on the other hand, have pointed to the growth potential for the services business as reason to own the stock for the long term. Sanchez believes the stock looks good no matter which way you value it.
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