Apple investors may be tempted to cut their losses after the company reported disappointing quarterly figures, but they need to be patient, Albion Financial Chief Investment Officer Jason Ware said Wednesday.
"Typically, what we see as we get into this next-gen product cycle is we want to be in the stock ahead of that, usually by a couple of months to enjoy those gains. We saw it on the iPhone 6, when the stock did very well in 2014," Ware told CNBC's "Power Lunch."
"To be an investor in Apple, you need to look ahead into the next product cycle. That might be the iPhone 7, coming this fall," he said.
Apple shares fell sharply Wednesday, amid light fiscal second-quarter earnings and revenue, leading several analysts to cut their price targets on the stock, including JPMorgan Chase's Rod Hall.