How Apple's stock stacks up before iPhone event

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Ahead of Apple's highly anticipated event Wednesday, which is likely to be about the iPhone, CNBC Pro gathered the views from a top fundamental analyst and a lead market technician on how to trade the stock.

Even though shares of the tech giant are trading 17 percent below their all-time high price of $134.54 reached April 28, the sentiment on Wall Street remains overwhelmingly bullish.

Based on the consensus rating from 42 Wall Street analysts, shares of Apple are projected to rise by 28 percent in the next 12 months to $144, according to FactSet.

Since the launch of the original iPhone in 2007, investors closely monitor technological advances for Apple's most valuable product, which according to estimates will account for about 66 percent of the company's revenue this year.

Here's what some of Wall Street's top analysts believe could move the needle: