“You paid $349 for what?!”

That was my wife’s reaction when I got home from work a few weeks ago. See, my wife and I share bank accounts and credit cards. Anything we buy, we both see it.

This charge was for Apple Inc.’s (Nasdaq: AAPL) new HomePod — its smart speaker.

It wasn’t a surprise to hear that I bought one; I had been talking about it for a few weeks, and our 8-year-old son was excited to get it. So she knew I was buying it.

What she didn’t know was how much it costs.

At first, she thought the $349 purchase with Apple was to buy her an Apple Watch. You can understand her disappointment. So, like any good husband, my wife got an Apple Watch for Valentine’s Day this year — and she loves it.

We are putting the HomePod to good use. And I have to say, being an avid owner of many Apple products, I don’t see anything on the market that tops it. But this isn’t just another raving review for the company — there are enough of those on the web.

Instead, let’s get back to the stock. I’ll explain why Apple, regardless of your personal smartphone preference, is a blue-chip stock you want to own.

The Most Undervalued FANG Stock

My colleague Paul Mampilly believes Apple is falling behind its peers.

I take the other side of that view — and this is what makes the markets so dynamic. Paul, who I highly respect and is the best stock picker I have ever seen, sees things differently than me — and that’s perfectly fine. Years from now, one of us will be right, and one will be wrong — only time will tell.

What I do know is that when you get beyond the raving tech reviews for its products, Apple still has a lot going for it.

The stock trades at a current price-to-earnings ratio of just 18.5.

To put that in perspective, let’s look at some other FANG stocks, which are some of the largest tech stocks in the world.