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Apple 'not a growth company anymore': Analyst

Analyst cautious on Apple

An outspoken analyst is looking for Apple stock prices to stumble.

BGC Financial Director of Research Colin Gillis told "Fast Money" Monday—less than 24 hours before its fiscal third quarter earnings report—that he's cautious on the iPhone maker's business.

"All the metrics for this company are slowing. It's just the law of large numbers," said Gillis. "This is not a growth company anymore. It's a value company."

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Gillis, who raised his price target to $87 from $78.50 a share on Monday, has a "hold" rating on the stock.

Apple shares fell by 0.5 percent to close at $93.94.

By CNBC's Stephanie Landsman