FBR Capital On Apple: Near Term A 'White Knuckle' Period, Next 6 To 9 Months 'Golden Oppurtunity'

After consolidating near the $115 mark, shares of Apple Inc. AAPL have again continued their downward journey that they begun post the company's third-quarter earnings on July 21. Dan Ives, FBR Capital, was on CNBC recently to discuss how the trajectory for Apple's stock look going forward.

Golden Opportunity To Own This Name

"It's all about China," Ives began. "I mean, the fears are really starting to increase. It's almost like a forest fire out there. Lot of bears firing in a crowded theatre. It comes [down] to that China growth story, but ultimately we believe this is overdone as perception reality."

He continued, "But it is like fighting a ghost and till they come out with their launch September 9, till they show their numbers in this quarter and ultimately, I think, bulls are going to be proven right. Next 6 to 9 months, I view this as golden opportunity to own this name even though in the near term, it's a white knuckle period with Apple given all the bears piling on."

China Will Show Strength In Second Half

Ives was asked if the fears of Apple sales slowing down in China are overblown and doesn't recent numbers by tech majors suggests that the sector is making good progress in mobile, cloud and cyber security. He replied, "Oh yeah, and you saw that even in this past quarter, right? cloud, cyber security, big data. And you look at China and some of the overseas market, I mean, we really saw a good earnings and we think second half you are going to see strength there."