NEW YORK (TheStreet) -- Piper Jaffray senior research analyst Gene Munster and Dohmen Capital Research Group founder Bert Dohmen appeared on CNBC's "Closing Bell" on Monday to discuss the pros and cons of buying Apple (AAPL) - Get Report stock. 

Apple outperformed the market in the past month, gaining 11.01% vs. the S&P 500's 1.31% gain for the same period, CNBC's Kelly Evans reported.

Munster says Piper Jaffray has about a 40% upside for its $151 price target, based on new products, including future releases in the augmented reality and automotive sector. 

"That gives some optimism for investors that this isn't just a one-year trade. There's some ground work that could help it get into big growth markets in the future," Munster explained. 

On the other hand, Dohmen said he has a negative view on Apple because its revenues and profits have fallen every quarter since late 2014 and "the deterioration is accelerating." 

iPhone sales were down 15% in the last quarter and profits were down 27%. Even in China, which was supposed to be a "big money maker" for the company, sales were down 33%. Dohmen said. 

"This is the kind of stock I wouldn't touch with a 10-foot pole. I mean you've got to be deaf, dumb, and blind to buy this," he said. 

Munster responsed by saying investing is all about future optimism. 

"That would be constructive if we bought stocks based on things that happend in the past, but I think investors tend to look at what goes on in the future," he explained.

While Apple had a difficult period, that doesn't weigh on its ability to turn out "great devices," Munster concluded.

(Apple is held in Jim Cramer's charitable trust Action Alerts PLUS. See all of Cramer's holdings with a free trial.)

Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

TheStreet Ratings team rates Apple as a Buy with a ratings score of B. This is driven by multiple strengths, which the team believes should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks the team covers. 

You can view the full analysis from the report here: AAPL

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