Apple passes $900 billion in market cap but strategist says it’s a ‘screaming sell’

Summary

Shares of Apple rallied after hours Thursday following an earnings beat for the tech giant, but that's not stopping one strategist from hitting the sell button on the stock. Despite Apple's 45 percent surge this year and high demand for the iPhone X, Larry McDonald, head of U.S. macro strategies at ACG Analytics, still believes the stock had already gone too far, too fast ahead of the latest earnings report. "You're talking about a company with a market capitalization of $865 billion that's trading close to 15 percent above its 200-day moving average," he said Thursday on CNBC's "Power Lunch."

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