NEW YORK (TheStreet) --Piper Jaffray research analyst Gene Munster joined Tuesday morning's CNBC "Squawk on the Street" to comment on the reports that Apple (AAPL) - Get Apple Inc. (AAPL) Report received illegal tax benefits from Ireland.

Reports suggest that Apple evaded international tax rules in exchange for job creation in Ireland. Now the tech titan is facing a $14.5 billion tax from the European Union.

"It is an eye-popping number to the magnitude that we haven't heard before, but the reason why is just simple math. If they get penalized the $14.5 billion, which is still unsure whether they will pay that, but assuming they do, it's going to be about $2.50 almost $3.00 per share," Munster explained.

He argued that those are relatively incremental numbers and that the bigger challenge and worry for investors stem from the relationship between Apple and the E.U.

"The EU should be careful about how they approach this. Obviously, because they want investment from U.S. companies, so I think there's going to be precedence that's going to be set by this," Munster said.

From Apple's perspective, Munster feels that as long as the company continues to cultivate an interest in its products, consumer sentiment within the E.U. will remain healthy.

Regarding Ireland, the country has become an attractive site for the technology industry in Europe. In light of these reports, Munster was questioned as to whether this would diminish.

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"I definitely think it would, and I think that's probably why Ireland is pushing so hard to keep this together. I'm sure there are very talented in Ireland, but I'm sure these big companies can find talent anywhere in the world. So I think it's important for Ireland to keep this together for local employment," Munster noted.

Shares of Apple were lower during mid-morning trading on Tuesday. 

(Apple is a core holding of Jim Cramer's charitable trust Action Alerts PLUS. See all of his holding with a free trialhere.)

Separately, TheStreet Ratings team rates the stock as a "buy" with a ratings score of B+.

Apple's strengths such as its largely solid financial position with reasonable debt levels by most measures, expanding profit margins, increase in stock price during the past year and notable return on equity outweigh the fact that the company has had sub par growth in net income.

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

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 article's author.

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