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Pete Najarian buys Apple ahead of Watch release

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Robert Galbraith | Reuters

Pete Najarian bought shares of Apple for his Halftime Report Portfolio on the belief that the Apple Watch and new iPhones this year will drive the shares higher.

Najarian made the trade live on CNBC's Halftime Report after host Scott Wapner complained that he hadn't made one move all quarter for the contest.

"I've owned Apple personally for a decade," said Najarian. "Everyone talks about valuation, but it's not that. It's the next catalyst."

Shares of Apple are up 14 percent in 2015, but off their highs over the last month on concerns about demand for the Apple Watch and the device's battery life. It goes on sale on April 24.

"A lot of the excitement over the Apple watch has tempered down."

Najarian, considered by many to be among the best traders to appear regularly on the show, sold shares of Baxter to make room for Apple in the five-stock portfolio. Foot Locker, Citigroup, UPS and American Express make up his other holdings.

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