Apple Inc. (NASDAQ:AAPL) investors are being "way too pessimistic" about the company and that the iPhone maker's stock still has "room to run," according to Eric Jackson.
What Happened: EMJ Capital's Jackson expressed surprise about the "hate" that the Apple stock is receiving amid a decline in iPhone sales in China and the U.S. Department of Justice (DOJ) antitrust lawsuit.
"I think investors are being way too pessimistic. Out of all the Mag 7 stocks, after maybe Tesla, Apple is currently the most hated," Jackson said during an interview with CNBC's Last Call.
"We've seen this picture before, there have been pullbacks, sometimes a lot sharper pullbacks than what we've seen."
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Apple is currently caught between the DOJ lawsuit and declining sales in China. The DOJ antitrust lawsuit claims that Apple monopolized the smartphone markets and stifled innovation for apps, products, and services.
Apple has termed the lawsuit "dangerous," but Wedbush's Dan Ives does not expect "any business model changes for now."
"Mad Money" ...