Although Apple does not offer a dividend, and it suffered a selloff after Steve Jobs' resignation from the CEO position, Webb said it is a great time for investors to buy if they had not already.
Webb cited slower growth in Europe, a cooling-off in the emerging economies and persistent weakness in the U.S. housing market as reasons for his thinking that there is a more than 50 percent chance of a recession within the next year.
Robert Doll, BlackRock's chief equity strategist, pegged the chance of a recession at 30 percent.
"I think with unemployment claims basically being flat, capital expenditures hanging in there, corporate earnings being pretty good, we’re probably not in recession-land," Doll said.
Doll added that he expects third-quarter earnings to be "not great, but not as bad as the big decline in the equity market would suggest."
"Lots of companies we talk to say business is okay—not great, but okay," he said.
He added that although companies do not have much confidence in the future, "current results are reasonably respectable."
CNBC Data Pages:
Disclosure information was not available for Robert Doll, Bill Webb or their companies.