Piper Jaffray: Now's a Good Time to own Apple Stock

A new report from analyst firm Piper Jaffray says that despite Apple's "lagged" stock gains this year, now is a good time to own shares, based on the company's future.

"There are several reasons why some are concerned [Apple] will not move higher, including ownership reaching maximum levels among key investors, tough growth comps over the next several quarters, and lack of share appreciation following a significant beat in March," Piper Senior Research Analyst Gene Munster wrote in a note to investors this morning.

The firm expects Apple's overall revenue to grow by 28 percent over each of the next four years, with products like the iPhone and iPad exceeding that at 30 and 40 percent respectively.