Apple (NASDAQ:AAPL) stock has seen a much-publicized fall from grace over the past few months, falling from highs above $700 to below $500 this week. Many people still believe in the AAPL story and think the recent selling has been overdone.
If you still have some confidence in AAPL but do not wish to play the stock directly, in my opinion you should consider the top wireless service providers for Apple's iPhone. Price action in Verizon (NYSE:VZ) and AT&T (NYSE:T) has correlated very closely with AAPL, and I believe the recent weakness in AAPL has created a potential buying opportunity in these communications stocks. Each pays a healthy dividend, and this could be an opportunity to enter them for the long-term.
*DISCLOSURES: Mike Lee has no positions in stocks mentioned