Nancy Tengler on Apple stock: ‘it’s a must own’

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Apple Inc shares (NASDAQ: AAPL) have recovered 17% in roughly two weeks but the opportunities continue be plenty for the iPhone maker, says Laffer Tengler CEO.

Tengler regrets cutting her stake in Apple Inc

According to Nancy Tengler, she’s cut her holding in Apple by 50% over the course of the pandemic – a decision that she regrets. On CNBC’s “Squawk Box”, she said:

The stock is up 800% on a trailing 10-year basis, so it’s hard to advocate aggressively for the stock, but it’s a must own. We still have it at about 3.0% of our large cap equity portfolio.

Just last week, Evercore’s Amit Daryanani also forecast AAPL to be a $210 stock in the not-so-distant future that represents another 20% upside from here.

Tengler has incredible confidence in CEO Cook

Tengler has tremendous confidence in the leadership of Tim Cook, who, she says, has filled the shoes nicely for Steve Jobs. She added:

Cook continues to be underestimated, but he’s managed to navigate China very nicely, the innovation that was claimed not be there, is still in the company. So, there’s still a lot of leverage to pull.

Solid iPhone sales, especially after the launch of a new, more affordable 5G compatible SE earlier in March were among other reasons for her positive outlook. She agreed that yield had come down to 0.5%, but reiterated the stock as still a great buy.

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