Huberty says the "this cycle is different" for Apple. The company is expected to unveil two new iPhone 6 models and possibly a wearable device. Out of the ordinary preparations for the press event seem to corroborate these reports.
The chart below shows Apple's R&D spending. You'll notice spikes ahead of major announcements and currently spending is at an all-time high.
Other arguments for Apple stock include a lower share of institutional ownership, increased cash return to shareholders, new executives, numerous acquisitions, stabilized gross margin, and booming online services.
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