Will Apple Be Immune to a Potential Trade War With China?

The S&P 500 has turned positive after an early session slide on Monday. Fears over an escalating trade war continue to linger around the market.

Investors are worried about companies that do business with China, with some stocks coming under pressure as a result. However, one stock that should be fine despite its China business segment is Action Alerts Plus holding Apple Inc. (AAPL) .

On CNBC's "Mad Dash" segment, TheStreet's Jim Cramer pointed to a survey by Baird analyst William Power. The company's ecosystem remains strong, the analyst contends, while the Apple Watch continues to market share. Further, the company's new HomePod product looks promising.

From a headline perspective, we don't know what will happen with the developing trade situation, Cramer reasoned. As a result, the markets could remains more volatile than investors have grown used to.

"It's a new risk," he continued, and "it's being priced into stocks."

For Power's part, he reiterated his overweight rating and $200 price target.

Another analyst, Piper Jaffray's Michael Olsen, also reiterated the same rating and price target Monday morning. He's optimistic about the company's "super-long" iPhone cycle following a survey from current customers.

Apple stock is well off its session lows and ended higher by 0.35% to $176.82 Monday.

At the time of publication, Cramer's Action Alerts PLUS had a position in AAPL.