The recent sell-off of Apple stock has presented a perfect buying opportunity for investors, according to Wedbush analyst Dan Ives.
Apple shareholders have dumped stock in the company over the last month or so after the iPhone maker came off a historic December quarter. As a result, Apple's share price fell from a high of $143.16 on Jan. 26 to $116.36 on Monday. Apple was last seen trading at $120.74 at around 10:05 a.m. ET on Wednesday.
"The recent sell-off creates a golden buying opportunity," Ives said in a note.
Here, Wedbush's Ives outlines why he believes Apple's "supercycle party" could put the company on course for a $3 trillion market cap.