5 Reasons I Still Love Apple Stock, Even After It Soared Higher

Apple's premium valuation rests on a powerful combination of a strong iPhone cycle and a growing stream of high-margin services revenue.After a sharp rally in recent months, Apple (AAPL +1.97%) shares look expensive. The iPhone maker's stock has climbed to fresh highs, reflecting investors' growing confidence that the company has emerged from its growth lull and is heading into a stronger product and earnings cycle.Apple is still a hardware-focused business, but the story now leans more on services and the ...