Stephanie Keith | Getty Images
Tim Cook, Apple CEO laughs while Lana Del Rey (with iPad) takes a photo during a launch event at the Brooklyn Academy of Music on October 30, 2018 in New York.
Apple's stock rose 3.7 percent on Thursday, putting the stock on the pace of its ninth positive day in the last 10 trading days.
"There are a lot of bets going on r that Apple can transfer from a hardware company to software and streaming service, "Chaikin said.
Apple's Apple also surpassed an important technical level on Thursday, its 200-day moving average. Metric helps indicate investors' overall long-term trend in a stock, and in this case, shows how Apple's stock has been steadily climbing. While Chaikin said that 200-day moving averages are closely monitored for indexes, rather than for individual stocks like Apple, he noted that metric has "symbolic" meaning.