Apple's next iPhone cycle is expected to be one of the biggest yet — but that doesn't necessarily mean the stock will keep soaring, according to one of the company's most well-known followers.
There could be a 10 percent pullback in Apple shares in the next one to three months, Gene Munster told CNBC's "Power Lunch" on Tuesday.
"The trading history over the past four years is a little bit difficult to look at — just what happens when the product's announced to three months after," said Munster, who covered Apple for years as a Wall Street analyst before becoming a managing partner at venture capital firm Loup Ventures.
"But the biggest run-ups it's had going into a product cycle would suggest, typically, that you have a tail-off. And I would expect the same thing."