Apple stock price has lost the upside momentum over the last month amid a broader market selloff due to concerns over slowing economic growth. Meanwhile, the market analysts appear bullish over the future fundamentals as the world’s largest tech company has successfully been diversifying its revenue base over the past two years.

Apple is the leader in a smartphone, iPad, and mac, but the company could also emerge as a contender in the fintech space, according to Cowen analyst Krish Sankar.

AAPL Apple Inc. daily Stock Chart

The analyst expects Apple’s digital payments business to hit multi-billion valuation in the next couple of years. The digital payment business has generated more than $1 billion in revenue this year, with the expectation to reach a $2 billion level in 2022.

Apple stock price is currently trading around $116 a share while Cowen has provided a $133 price target for the world’s largest tech company. Shares of Apple soared almost 106% in the past twelve months, thanks to strong revenue growth trends.

Apple has generated substantial revenue growth from its services and wearable business in the past few quarters, which is helping it in generating high double-digit growth in revenues. The company expects to generate $63 billion in revenues for the third quarter compared to the second quarter revenue of $59 billion.

Moreover, the company has been seeking to expand its store count all over the world, with the expected opening of 500 stores this year.

Indeed, some analysts are suggesting investors buy the dip. Apple stock is currently trading significantly below the 52-weeks high of $137. Morgan Stanley is among the bulls who are expecting upside ahead. The firm sees several catalysts that support share price gains.

“First, there’s the positive catalyst of the upcoming new iPhone launch. Next, checks suggest the iPhone is taking market share in China and Europe,” says Morgan Stanley’s Katy Huberty.