The markets are having a tough year so far, with the S&P 500 declining by about 13% year-to-date, amid the surging inflation and crude oil prices, and expectations of tighter monetary policy, all of which are likely to impact economic growth. Tech stocks have fared still worse, as investors rotate into value and cyclical bets, with the Nasdaq-100 down by close to 20% year-to-date. Now even $Apple(AAPL)$ stock, which is seen as a safe haven of sorts, hasn’t really been immune to the sell-off, declining by about 13% year-to-date. However, we think Apple still looks compelling in the current situation, with our $174 price estimate for the stock coming in about 10% ahead of the current market price. There are a couple of reasons for our bullish stanc