Apple to have 'blockbuster' holiday season: Analyst

Apple is going to have a "blockbuster" holiday season not just in North America but around the globe, JMP Securities' Alex Gauna is predicting.

"What appears to be on the table is resurgence in share gains for Apple," Gauna, the firm's managing director, said in an interview with CNBC's "Power Lunch" Tuesday.

In some stores, iPad Minis and iPad 2 Airs are out of stock and there is "exceptionally strong demand" for the iPhone 6 and iPhone 6 Plus, he said.

"We haven't even moved into the Chinese Lunar New Year selling season abroad. So I do believe it is going to be a very strong holiday sales cycle for Apple."

The tech giant's holiday sales aren't the only thing on investors' minds lately. On Monday morning, Apple shares plunged before recovering. On Tuesday, an antitrust lawsuit against Apple began in a California courtroom. Late co-founder Steve Jobs is expected to be the star witness via taped deposition.

Read MoreSteve Jobs to take the stand in Apple antitrust suit

Guana said he expects the trial to take some time, but said it is difficult to opine on what the outcome may be.

"Apple is an innovative company, arguably the most innovative electronics company in the world," he said. "I personally believe that the company back in time was just pushing the technology forward as fast as it could to deliver better, in fact brilliant, products to its consumers."

Guana has a "buy" rating on the stock.

Disclosure: Apple is an investment banking client of JMP Securities