Apple is no longer the innovative, growth company it once was but has become a "solid" value company, shareholder Danilo Kawasaki said Wednesday.
"It is well-positioned to take advantage of the marketplace right now. But it's not a revolutionary company anymore," the Gerber Kawasaki co-founder and chief operating officer told CNBC's "Closing Bell."
While founder Steve Jobs was the driver of innovation for Apple, CEO Tim Cook is an operational person, he noted. However, under Cook, the tech giant has doubled revenues and profits in the last five years, he pointed out.
As expected, Apple unveiled its newest iPhone and updated Apple Watch on Wednesday. While the new phone is "beautiful," BGC Financial analyst Colin Gillis said the stock is a different story. He currently has a "sell" rating on Apple.
"We are stuck in a total trading range," he said. "It's either going to break up or it's gonna break down, and it's all going to depend on reception to this iPhone 7."
The problem with Apple is that smartphone market growth is grinding down to 1 percent and people are taking longer to upgrade their phones, he told "Closing Bell."