Pro Analysis

The Apple trade: Buy 'aggressively' under $100

Investors should buy Apple shares when they fall below the $100 mark this year in order to participate in a big rally coming in the stock in 2017, a Cowen analyst says.

Apple's stock traded above $100 after the company reported better-than-feared iPhone sales Tuesday. That level has been heavy resistance for the shares in 2016 and may continue to be if sales of the new iPhone 7, likely out in September, fall short of expectations, according to Cowen.