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Dec. 11, 2013, 6:15 a.m. EST

10 reasons to buy Apple stock now

Opinion: The company has changed — so have expectations

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Apple CEO Tim Cook speaks during an Apple product announcement in September.

At long last, Apple Inc. is finally in the green year-to-date in 2013. And while the stock has still woefully underperformed the S&P 500, it’s undeniable that the tech giant finally has some swagger back after some recent strength.

But what’s next? Is Apple AAPL +0.51%  stock ready to push even higher, or just giving investors another head fake?

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I’m convinced it’s the former — and that Apple stock is a buy for long-term investors.

No, Apple is not on its way back to the valuations of late 2012 when it topped $700 a share. The company has changed a lot since then, and so have expectations.

And yes, there’s the risk of buying a top. Shares are up over 40% in less than six months, and tech broadly is starting to feel a bit frothy to many market watchers after a big run in 2013.

But Apple’s run since July has been built on a number of very real improvements in the business that bode well in the long term for shares even if we may see volatility in the short-term.

Investors who think this is just a short-lived uptrend amid a choppy “new normal” for AAPL stock are not giving the company credit where credit is due.