Paul Meeks of Saturna Capital thinks the Apple Inc. (NASDAQ:AAPL) bottom is far behind it, and it would take very little for the company’s stock to climpb back to $600. The investor made the comments on CNBC’s Fast Money earlier today. At the time of writing, Apple Inc. (NASDAQ:AAPL) stock is trading at $435.45, down 0.67% for the day’s trading.

apple stock

According to Meek’s analysis, Apple Inc. (NASDAQ:AAPL) has a bottom of around $385, and he doesn’t see that coming any time soon. Meek is also confident that all the market needs is an excuse to bring the company’s stock back up to $600.

Apple needs a trust spark, according to Meeks

Apple Inc. (NASDAQ:AAPL) needs to give the market something new in order to get the price back up to $600, according to Meeks. He doesn’t expect that to happen until the December of this year at the earliest, but he also said the only thing the company needs to show is “a glimpse of innovation.” Meeks appears to believe that the market doesn’t even need a world beater in order to give the stock an excuse to go back to $600, it just needs to show that the Apple Inc. (NASDAQ:AAPL) of the last decade is still there.

That innovation has been waiting a long time, however. Apple Inc. (NASDAQ:AAPL) has not released a truly new successful product line since 2010, and the rumors surrounding the company are as confusing as always.

Meeks might be right. There was very little substantive change in Apple business and when the stock fell from over $700 to under $400, there was a loss in faith in the company’s ability to innovate and improve. Each new iteration of the company’s products was a smaller and smaller margin of quality over the previous generation.

Apple $600 target doubted by many

Apple Inc. (NASDAQ:AAPL) needs to innovate in order to survive. The reason analysts were predicting the firm could be the world’s first $1 trillion company was because of its incredible success in its business, and its phenomenal ability to create entirely new markets.

Apple Inc. (NASDAQ:AAPL) hasn’t done that in years, and if it does not manage to do it again investors could be burned again. A large amount of the value of Apple Inc. (NASDAQ:AAPL) shares is in innovation. Apple Inc. (NASDAQ:AAPL) needs to show that it can continue to innovate and, just like Meeks said, the company will rise in value.