Why Investors Should Be Buying Apple Stock

After having its slowest start to a year in five years, Apple Inc AAPL is the best performing FAANG name this week. 

The panel on CNBC's "Fast Money Halftime Report" discussed Friday why investors should be putting money to work in Apple.

Apple has been getting more and more endorsement from institutional investors lately, Market Rebellion co-founder Jon Najarian told CNBC. Institutions have been accumulating shares of Apple since it was in the low $120s, he added. Najarian expects the accumulation to continue into the fall this year. 

Farr, Miller & Washington's Michael Farr told CNBC that compared to the rest of the FAANG names, Apple is a "standout buy." The stock has lagged so far this year and investors make more money when they invest in contrarian names, rather than the ones that are hot, he said.

Although Apple products are lasting longer, people still continue to upgrade, Loop Capital's Kourtney Gibson said. When given the chance to invest in a company that is as "innovative and creative as Apple is, you have to be in that name," she emphasized. 

Related Link: This Is How Long Apple Took To Sell 100M Units Of The iPhone 12

Cerity Partners' Jim Lebenthal told CNBC that investing in Apple is as simple as following the money. When the stock is down, Apple buys back shares, he said, adding that the company shrinks its share count by around 6% year-over-year via buybacks.

APPL Price Action: Apple has traded as high as $145.09 and as low as $89.14 over a 52-week period. 

At market close Friday, the stock was up 1.96% at $139.96.

Photo: courtesy of Apple.