let's bring in investor paul meeks who does not think the worst is over for apple. lead portfolio manager for the wireless fund. why not? >> well, you take a look at their biggest business, iphones, which still are going to be moving the needle more than any other business, even the exciting services business that just grew -- or sorry, declined 15% and their most important geography, china, declined almost 30% and so where do you get the growth and i take a look at the value of the hardware oriented businesses the value of their balance sheet, which is pristine and a nice rather generous value for services and i come up with a total figure, fair value of this company at 137 >> per share >> today after their report, the lowest estimate i saw for fair value for the company by wall street was 150 i think -- >> you think it's a value trap >> even their low is too high. >> you think it's a value trap berkshire hathaway probably has a different point view of. it's not a growth stock but it can be an extremely good value investment do you think that's possible or do you t

joining me paul meeks and tech analyst gene munster. guys, you are the top two names when it comes to apple. i appreciate you being on together. gene, you came out with bullish, some say gutsy call on apple before the news hit. where are you right now? where do you stand? >> still a believer in that prediction. just to recap, apple will in 2019 outperform fang. it was not the start of the year we hoped with that prediction. i'm optimistic for a couple reasons. i think there is a fair amount of bad news already priced into it. second, historically this has been a pendulum. while the first couple quarters of the year won't be that great for apple. i think the back half, is that stablizes. i think that should be a positive for the multiple. there is other good things going on. but the simple answer, charles, we still feel good about that prediction. charles: paul, you were relatively bullish on the stock. are you feeling at this level it is oversold? >> i think it is approaching oversold. i value the balance sheet and services business, co

tumbled all the way down to 29 >>> joining us now to discuss which could be the best is portfolio and paul meekslio manager for the wireless fund. what do you think? do you buy into the premise that there could be one of these main streets that pops up >> i think there have been for some time. i think they will continue to be the ones we are most interested in are microsoft and amazon. i think it continues to be i think the pull back makes it more attractive. they are talking about cloud transition they have a $35 billion cloud business that's growing 30%. >> do you assume that apple isn't going to have the status that it did in terms of being such a widely owned stock and such an out performing stock over years it is beloved by not just wall street analysts but retail too >> apple is a phenomenal consumer product it is one of the best consumer products we have ever seen how much growth is left in apple and is evaluation attractive i think it is very attractive. i think whether it is china or doe mostic h domestic i think it's a question a lot of people are grappling with >> what stocks would yo

but do apple's products go deeper than that let's bring in amitt darwani and tech investor paul meeks, beating the drum on apple's problems for a while now great to have you with us. amitt, you're among many analysts on the street who slashed the target cuts. do you believe what apple is telling you about china? the fact that tim cook came out and said china is falling into the category of other emerging markets in november and take the guidance and pin it on china now, are you getting a good sense of what the company is seeing in china? >> i'd say what they're seeing in china clearly, you know, happened last 30, 45 days and i argue if you look at other data points, auto sales in china, they all are showing a deceleration directionally i get the logic on what he's doing and what he's saying i think there is a second half of the problem which is that they raise prices too far, too much, with not enough innovation and that's perhaps forcing people to hold off on buying the phones, especially the iphone 10 r. i get what they're saying. i think the element of less innovation, higher prici