Investors don't have to dig to find pricing power in this market, two traders say.
With consumer prices seeing their largest year-over-year spike in nearly four decades last month, the hunt for stocks that can withstand rising inflation is on — and one of the most popular names out there is still a good bet, Piper Sandler's Craig Johnson told CNBC's "Trading Nation" on Friday.
"I think Apple still looks very attractive," the firm's senior technical research analyst said, adding that he took note of Apple's "incredible pricing power" when he recently upgraded his iPhone.
"We've seen prices go up over 80% since 2007," when Apple launched its first iPhone, he said.
Apple's stock has climbed more than 4,050% over that time frame. Shares closed nearly 3% higher on Friday at $179.45.
"I'd be buying it on a pullback toward 157," Johnson said. "It's a little extended right now, but on a pullback back to those September highs, I'm a buyer of Apple."
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A different industry leader also appears to have power over its cost constraints, Joule Financial Chief Investment Officer Quint Tatro said in the same interview.
"Starbucks is not a traditional staple, but they have massive pricing power," he said. "They'll definitely be able to push those input costs onto consumers."
Though some are concerned about the company's high debt levels, it's also sitting on $6 billion in cash, Tatro said.
"Starbucks is our play to definitely take on these headwinds of inflation," he said.
Disclosure: Joule Financial owns shares of Starbucks.
