“Apple led a list of information technology and software companies as Drexel Hamilton’s top pick for 2016,” Brian Deagon reports for Investor’s Business Daily. “Drexel analyst Brian White also listed Hortonworks (HDP), RedHat (RHT), and Tableau (DATA) as among his top stock picks.”

“Among reasons Apple led the list were expectations of an iPhone 7 launch in September, growing momentum in the wearable category with Apple Watch, a bigger push into China and India, and continued generous cash distribution to shareholders,” Deagon reports.

“White has a buy rating on Apple and a price target of 200,” Deagon reports. “Apple stock closed at 107.32, down 1.3% in the stock market today.”

Read more in the full article here.

MacDailyNews Take: As for why Apple was down today: Blame Canada Italy.

Apple to pay $348 million to settle Italy tax fraud case – December 30, 2015