Widely followed Wall Street analyst Toni Sacconaghi put out a new report on (NASDAQ: AAPL) on Monday. The Bernstein analyst had recommended investors just hold shares in the iPhone maker. Now, ahead of its quarterly earnings report expected later this week, Sacconaghi says it's time to buy Apple stock.

The analyst's "outperform" rating comes with a price target of $195 for Apple. That's a gain of nearly 15% over the next 12 months from Tuesday's closing price.

Apple hasn't been a standout among technology stocks this year. Shares are down nearly 12% year to date. That has come about as investors fear growth is slowing and interest in its latest iPhone offering has been lackluster.

Continue reading

Source Fool.com