Everything Apple does is subject to incredible levels of scrutiny, as the media, analysts, Wall Street, and fan-boys all pay attention to the latest and greatest from Cupertino. There are countless websites devoted to rumors about Apple, while hordes of media, developers and fanboys flock to the company's events.
From iPads to iPhones, iPods and Macs, Apple's product are everywhere. Just look at Apple's first quarter results when the tech giant earned $13.87 a share on revenue of $46.33 billion. Wall Street estimates weren't even close.
Apple's stock has had an incredible run year-to-date, gaining 27.5%, and 47.3% over the past twelve months, far outpacing the broader markets. Even with these outsized gains, the stock is relatively under-owned, compared to other stocks in the Russell 1000.Here are the five reasons why J.P. Morgan is still incredibly bullish on Apple.