Apple Inc (NASDAQ: AAPL) was the topic of discussion on CNBC’s “Fast Money: Halftime Report” ahead of earnings after Wednesday’s close.
Host Scott Wapner asked Jon Najarian if he was nervous heading into the report.
“Nope, not even a little bit,” Najarian replied.
The Apple App Store accounts for 15%-30% of derived revenue, which is a huge driver for the stock, he said, adding that it will continue to be a driver in the future as the company recently started pushing advertisements “more aggressively” in the App Store.
The new Apple chip will be a game-changer, Najarian added.
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Jim Lebenthal chimed in saying he expects the stock to go higher over the coming months, adding that he expects Apple to set a new high by the end of this year if not by the end of the summer.
“Tremendous cash flow” from services will push the stock higher, he said. At the end of the year, investors will be happy having bought the stock at $125 or $135, Lebenthal said.
Apple was down 0.56% at $133.64 at last check.
Photo courtesy of Apple.
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