Mega Apple Bull Brian White's Three Part Plan For The Stock To Recover

Despite the depressed Apple stock price, and the very real possibility Apple could miss its own guidance this quarter, he's been pounding the table about why Apple is a buy all the way down.

Today, he lays out a three point plan for Apple to rebound:

• "Phase 1 - Pay Out More Cash to Win Over True Value Investors." Apple should bump its quarterly dividend to $5.00 per share, up from $3.75 (annual yield of 4.4 percent, up from 3.3 percent). It should also authorize $100 billion in share buy backs over the next five years.

• "Phase 2 - Profit Cycle Must Reach a Trough and then Grow." EPS growth needs to get nasty, which it will this quarter when White says it will be down 19 percent on a year over year basis. After a bad EPS quarter, it's time for Apple to spring back to life.

• "Phase 3 - Apple Must Tap into New Growth Opportunities." Apple should roll out a cheaper iPhone, get on China Mobile, and maybe introduce new products like the iTV, and iWatch.

That's it! Easy, peasy. Okay, Tim Cook, you've got the blueprint, now get to work.