NEW YORK (TheStreet) -- Shares of Apple (AAPL - Get Report) have suffered a brutal selloff recently, quickly dropping 15% from their highs. The stock continued lower on Wednesday, but rebounded from lows at $112, then jumped into positive territory. It's currently up about 1%. 

Too many investors were simply caught off-guard, said Jon Najarian on CNBC's "Fast Money Halftime" show. According to Najarian, co-founder of and, the move seems to have been driven by technical analysis and is not related to the fundamental story for Apple. He bought the stock on this morning's drop.

Investors should take a long-term view and realize Apple is still doing incredibly well, said Josh Brown, CEO and co-founder of Ritholtz Wealth Management. Apple's stock has been very rewarding to investors over the long-term, but tends to go through some bumpy periods.

Shares are being sold on "extreme" volume, added Pete Najarian, the other co-founder of and However, there's been "very aggressive buying" in the short-term options, he noted, adding that he's also long the stock. 

The long-term fundamentals for Apple are unchanged, according to Stephen Weiss, founder and managing partner of Short Hills Capital Partners. But right now, investors are worried that the iPhone 6S won't be different enough from the iPhone 6 to induce consumers to rush out and buy it. There's also concern that margins are already so high, it seems unlikely they will improve. 

Colin Gillis, senior tech analyst and director of research at BGC Financial, has a hold rating and a $115 price target on the stock. In 2015, Apple saw a huge boost in the average selling price for the iPhone 6 and 6 Plus. That won't happen again this year, which is concerning to investors in the short term. There are  also fears that sales in China could fall significantly, due to the economic slowdown in the country. Short-term investors may want to take profits in the stock, he suggested. 

"This is when you buy the stock," according to Chris Marangi, portfolio manager of Gabelli Funds. Sure, there are unknowns with Apple, he said, but the company is a cash-flow machine, which is great news for long-term investors. The company almost has to buy back stock, because it has so much cash in its balance sheet, he added. 

In regards to Disney (DIS - Get Report), Marangi said Wednesday's selloff is "probably" an overreaction. Shares were down more than 9% in late afternoon trading, following the company's earnings report. 

Investors are concerned about ESPN, one of Disney's properties, Marangi explained. And while it did lose some of its subscribers, the long-term business outlook for Disney seems to be fine. There are plenty of movies on slate, and reasons to be excited about theme parks and consumer products, he said. Plus, the company is going to start buying back more stock.

As for Fitbit (FIT - Get Report), the red-hot fitness device stock will release its first earnings report as a public company after the close on Wednesday. While the stock has already had a tremendous rally, Pete Najarian pointed out that it always helps investors get on board with an IPO if the company is already profitable -- which in Fitbit's case, it is. 

Najarian also made the case that the company's global presence is rapidly expanding, and while it faces competition, Fitbit remains the go-to name in the industry. 

But all of the technology is so similar, Weiss said, comparing Fitbit to its competition. Basically, he said, it's the best marketer of the group and its technology isn't unique enough, which is why he's avoiding the stock. 

Brown says it's too early to tell if Fitbit will get washed away by the competition, or if it will be able to cement itself as an industry leader. For now, the risk seems to high and he's avoiding the stock.

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This article is commentary by an independent contributor. At the time of publication, the author held no positions in the stocks mentioned.