In a recent publication, we unveiled a carefully curated list highlighting the 12 Best Tech Stocks to consider for long-term investment. Among those, we are particularly interested in examining Apple Inc. (NASDAQ:AAPL) and its standing relative to other top tech stocks.

On April 1, Chris Verrone, the chief market strategist at Strategas Research Partners, made a notable appearance on CNBCs Closing Bell. During this segment, he provided his insights regarding the current state of the tech sector. Verrone expressed an optimistic perspective, suggesting that much of the negative sentiment currently influencing the market has already been reflected in the recent stock prices. He pointed out that despite the market's recent downturn, indicators such as the VIX (a measure of market volatility) as well as currency and bond volatility are now lower than they were during the period of significant stress in mid-March.

Furthermore, Verrone observed that the number of stocks reaching new lows has diminished, indicating a potential stabilization in the market. He indicated that market lows typically occur during challenging news cycles, and he anticipates a rally from the current levels, with a projected range between 5,900 and 5,950.

However, Verrone cautioned that this current downturn appears to exceed the usual 10% correction, suggesting that it may take a considerable amount of time to ascertain the market's true direction. He underscored the necessity of keeping an eye on market breadth, new highs, and credit conditions in the weeks and months to follow. A notable shift in investor sentiment has been identified, with a greater number of bears compared to bulls in the market.

As the discussion expanded to include the influence of the Federal Reserve and political factors on the market, Verrone made it clear that he prioritizes the insights offered by the 2-year Treasury yield over comments made by Federal Reserve officials. He highlighted a significant decline in the 2-year yield, which dropped from 3.83% to 3.85%, suggesting a shift in market expectations regarding the Feds forthcoming actions. This is critical, as such movements can indicate broader shifts in economic outlooks.

Additionally, Verrone acknowledged the relative resilience of financial sectors during this correction phase, contrasting it with the ongoing struggles within the tech sector. He speculated that unlike financial stocks, which entered this correction phase as market leaders, the tech sector may find it challenging to reclaim that leadership position.

Despite Verrone's recognition of the current weaknesses faced by the tech industry, it is essential to note that the sector remains a beacon of innovation and growth potential in the long run. For instance, the so-called MAG7 companiescomprising tech giants that include Applecontinue to drive significant momentum within the market.

Our Methodology

To compile our list of top tech stocks suitable for long-term investments, we meticulously reviewed various financial media reports. This process led us to identify the 12 stocks that were not only popular among elite hedge funds but also received favorable analyst sentiments. The rankings of these stocks are based on the number of hedge funds holding stakes in them, with data sourced from Insider Monkeys database, which surveils the activities of over 900 elite money managers.