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Apple has tough road ahead: Analyst

Next year could be a make-or-break one for the biggest tech company in the world, Dan Ives, analyst at FBR Capital Markets, said Tuesday.

"I think the blooms are coming off the rose a bit for Apple. Not just in terms of the multiple, or in terms of what investors want to pay, but in terms of products," Ives told CNBC's "Squawk Box." "Apple came out on the watch side; was not successful. Streaming on TV has been suspended."

The company also released its latest smartphones — the iPhone 6S and 6S Plus — in late September and is rumored to be unveiling a new model — the iPhone 7 — sometime next year.

"It's a make-or-break, white-knuckle period for Apple," Ives said.

He also said the iPhone 7 needs to be a hit in order for the tech giant to be successful.

Apple did not immediately respond to a request for comment from CNBC.

The company's stock is down around 2.5 percent in 2015 and has fallen more than 10 percent in the last six months. The shares were up slightly at $107.31 in early trading Tuesday.

Apple shares in 2015Source: FactSet

Disclosure: FBR Capital Markets acts as a market maker for Apple.