Apple (NASDAQ:AAPL) has rebounded nicely from lows below $400 just a few months ago to around $500 today. Fool contributor Daniel Sparks still thinks the stock is a buy at today's prices. Catalyst or not, the stock is fundamentally too cheap, he says in the following video.

To illustrate, he evaluates Apple strictly as a dividend stock. When it comes down to it, the company is a cash cow -- it should pay out a nice dividend for years to come. Sure, Apple's dividend history may be lacking, but that doesn't discount the company's future potential as a dividend stock. As Daniel explains, many key metrics that are important to qualify a dividend stock are looking exceptionally nice for Apple at today's price.