Updated from 9:21 a.m. to add more detail about new products in the eighth and ninth paragraphs.
NEW YORK (TheStreet) -- If there was ever a time to own Apple (AAPL) shares, now is the time before the big boys get in. It's all about the back half of 2014 for Apple, a time that's increasingly looking like when Silicon Valley's largest company will make the mother of all product launches.
Morgan Stanley analyst Katy Huberty (she who gets to ask the first question on Apple's earnings calls), noted that the top 100 shareholders of Apple are "significantly underweight as compared to an overweight bias for every other large cap technology stock in our analysis."
Given that Apple has surpassed the $600 level on exceptionally strong fiscal second-quarter results, and an increase in shareholder friendly moves, such as increasing the dividend, a buyback and the upcoming 7-for-1 stock split, Huberty said she believes this bodes well for the stock. The company is getting set to launch product refreshes later this year, as well new products, including the iWatch, and new services, including mobile payments, something CEO Timothy D. Cook has touched on publicly before.
"The mobile payments area in general is one that we've been intrigued with, and that was one of the thoughts behind Touch ID," Cook said on Apple's fiscal first-quarter earnings call. "But we're not limiting ourselves just to that. So I don't have anything specific to announce today, but you can tell by looking at the demographics of our customers and the amount of commerce that goes through iOS devices vs. the competition that it's a big opportunity on the platform."