Global Equities Analyst On Recent Apple Rally: 'I Think There Are A Few Things That Investors Have Come To Realize'

Speaking exclusively to Benzinga, Global Equities Research Managing Director Trip Chowdhry said the recent rally in shares of Apple Inc. AAPL is not just momentum. There hasn't been any recent news stories about the company, but the stock has reached all-time highs in the past 11 trading sessions. Instead, Chowdhry believes the upside action may be based on broader fundamentals. “I think there are a few things that investors have come to realize,” according to Chowdry. The Global Equities analyst pointed to innovation which he believes is back at Apple. Chowdhry said the new version of every Apple product is better than previous versions and, in addition, each has a lot more options. “There are only a handful of companies whose new products are better than their old products,” he said. “The new version of Samsung is weaker than the older version. Samsung is stuck in the past and has self-destructed.” The second thing investors have come to realize, Chowdhry believes, is that Apple is a multi-product, multi-year growth story. He pointed out every iPhone release has customers waiting in long lines for the new product. “Is there any other company in the world with such a strong customer pull?” Chowdhry asked. Chowdhry said the Apple Watch will be it's most successful product launch ever.