Shares of the iPhone maker continued to sink, down almost 5 percent mid-day Wednesday amid a slew of analyst downgrades after Tuesday nights' earnings. But some people were cheering that the uncertainty that was dragging the stock has finally lifted, Munster told CNBC's "Squawk Alley."
"Investors don't want to hear this today, but this is actually what a lot of people wanted," said Gene Munster, managing director and senior research analyst at Piper Jaffray. "And the reason is, if you have the foresight to look to the middle and back half of this year, the comps are going to get easier."
Apple on Tuesday reported fiscal first-quarter earnings that beat analyst estimates, but revenue and sales of its most important product came in below expectations. The company reported that it sold 74.8 million iPhones in the quarter, compared with expectations of about 75.46 million.