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GoPro hits new low. Time for Apple to buy it?

Apple should take the opportunity to acquire GoPro now, said Ross Gerber, CEO and president of Gerber Kawasaki, on Wednesday.

"GoPro has a unique position in the market and they should be bought by Apple," he told CNBC's "Closing Bell." "A small position in GoPro is a risky investment for many investors but if you are thinking long-term and you're a growth investor, I think this is finally the entry point we've been waiting for."

Shares of the action camera maker hit an all-time low on Wednesday, on negative reviews of its new product line, as well as off a bearish analyst note which about halved the price target.

Gerber said the cheap price is an opportunity for Apple to get another bright ecosystem addition.

FBR Capital markets analyst Daniel Ives said that action cameras could be the next frontier of the smartphone market, making GoPro a direct competitor of Apple.

"I do believe as we go down the next year or two Apple does get more involved in action cameras and potentially we could be viewing GoPro as an acquisition candidate for an Apple or even a Microsoft," he said in the same interview.

Disclosures: Ross Gerber does own shares of GoPro. However, neither Daniel Ives nor FBR Capital markets owns the stock.