Wedbush recommends that investors believe Apple is a top-quality tech stock, despite recent difficulties. Analyst Dan Ives said Apple “is a compelling name that you can own and ride the market storm” and gave it an outperform rating. Apple is a trusted name in technology for decades, and it’s struggled recently. Apple shares have fallen nearly 13% since May, according to some traders. Apple’s struggles comes as the S & P 500 teeters on a bear market, down about 19% from its record. The key to Apple’s ability to weather this storm is its installed base. Ives said that Apple continues to have a unique installed base with over 1 billion iPhones in the world, and more than 1.8 billion iOS devices for Cupertino. Wedbush kept its price target at $200 per shares, which is over 45% more than where it closed on Thursday. Ives claimed that investors are worried about the effect of Covid lockdowns by China on Apple’s business. That should lead to the stock recovering. Ives stated that iPhone demand has been holding up well despite all the supply problems in Apple’s sector. He also said that the trend is better than the management’s forecasts for the quarter.