Apple, which has just reported its first quarterly profits decline in a decade, is headed the same way as Japan's Sony which fell out of favor with consumers 20 years ago, says one commentator who expects Apple shares to fall 20 percent.
The U.S. tech giant, which reported its earnings late Tuesday, beat earnings forecasts and doubled the amount of cash it will return to shareholders. But it disappointed investors with comments on slower growth and a lack of new products on the horizon, pushing its shares lower in after-hours trade.
(Read More: Apple's Roller-Coaster Ride to Set Market Tone)
Bert Dohmen, founder of investment research firm Dohmen Capital Research Institute, drew parallels between the technology poster child and Japanese electronics giant Sony 20 years ago.
"Apple is like Sony 20 years ago, everyone had to have Sony and Sony always delivered much less than the competition at a higher price, and finally people broke out of the system...People are calling it jailbreak when they finally get away from the ecosystem of Apple," said Dohmen on CNBC's "Asia Squawk Box" on Wednesday.
Sony, one of the world's most popular brands, has lost some of its luster because of Asian rivals taking market share and a lack of fresh innovative ideas, analysts say. Its shares have almost halved in value over the past 10 years.
(Read More: Will the PlayStation 4 Give Sony the Boost It Needs?)