REUTERS/Brian Snyder
Gundlach would cut ties with Apple.
"I would sell it [1] ," he said.
Back in 2012, Gundlach was one of the few people who were bearish on the iPhone maker when the stock was trading near its all-time high of $700.
His concern has been that innovation evaporated when Steve Jobs died.
Gundlach mocked Apple's iPhone upgrade offerings, saying that they were more or less just new case colors like "tutty-fruity."
On a split-adjusted basis, Apple recently made a new all-time high , and on Tuesday it is set to announce the latest version of its flagship iPhone device, as well as a new smartwatch.
Gundlach said the new products were most likely priced-in to the stock, which is trading just below $100 right now, and Gundlach said shares looked like they did back in 2012.Â
On Monday, BI's Jay Yarow noted that Apple shares typically fall on the day a new iPhone is announced, then rally ahead of the device going on sale before falling again.
In late morning trade on Tuesday, the stock was up about 0.8%.
BI will have complete coverage of Apple's latest announcement on SAI all day Tuesday .
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