NEW YORK (TheStreet) --Shares of Apple (AAPL) were higher in afternoon trading on Tuesday despite UBS managing director Steve Milunovich forecasting near-term struggles for the tech titan. Milunovich said there might be some slight downside uncertainty to current iPhone estimates for December and March.
"He is focused on the here and now, and I think everybody else is starting to talk about the (iPhone 8) already. That is really where everybody's focus is pushing out to," Co-founder of Najarian Family and Advisors Office Pete Najarian said on CNBC's "Halftime Report" today.
Najarian reaffirmed his position to hold the stock and remains focused on the next installment Apple's iPhone.
"I think if you own it, it is a cheap stock," Aureus Asset Management CEO Karen Firestone said. "But, would I buy it if I did not own it now? Not in the next few months." Simply, she doesn't see any short term catalyst driving the stock higher.
Ritholtz Wealth Management CEO Josh Brown, however, believes it's not worth waiting for the catalyst.
"I am long the name, I think the stock goes higher," he said. "We have just seen it trade up 20 points from July, up until last month. It is minutes away from breaking back above its 50-day moving average."
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Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. TheStreet Ratings has this to say about the recommendation:
TheStreet Ratings team rates Apple as a Buy with a ratings score of B+. This is driven by some important positives, which it believes should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks it covers. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, expanding profit margins, increase in stock price during the past year and notable return on equity. The team feels its strengths outweigh the fact that the company has had sub par growth in net income.
You can view the full analysis from the report here: AAPL