Apple Inc. (AAPL) has been the subject of much handwringing recently, resulting in a more than 4% drop over the past five sessions. But traders are being emotional, according to Jim Cramer and Marc Chaikin of Chaikin Analytics.
"We are gripped with the fear that it is either all or nothing," Cramer told viewers of TheStreet's 2018 Stock Kick Off webinar.
Chaikin believes that earnings will meet expectations once the company releases its quarterly report Thursday afternoon and cautioned investors not to look at the company as a tech stock, but rather a discretionary one.
Both men advised that Action Alerts Plus holding Apple isn't a stock one trades, it's a stock you hold.
Apple is expected to report December quarter earnings of $3.85 per share on record revenue of $87.5 billion, according to analysts polled by FactSet.
One other nugget Chaikin gave viewers was his belief that the company's repatriation of overseas money is a non-event. Chaikin pointed out that capital spending in 2018 is expected to be about $30 billion, which is in line with last year. The money will come into play in terms of stock buybacks.
Apple shares were basically flat in trading Wednesday afternoon.
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