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.

Fool contributor Daniel Sparks owns shares of Apple. The Motley Fool recommends and owns shares of Apple. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.