Gene Munster's Thoughts On Apple Following Q2 Results, 'Disappointing' Outlook

Top Apple Inc. AAPL analyst Gene Munster of Piper Jaffray appeared on Benzinga's PreMarket Prep show Wednesday morning. In addition to discussing the company's quarterly results and outlook, Munster also considered the prospects for new product categories, including the Apple Car and TV. Below are some of the highlights from the interview, published first as headlines on Benzinga's real-time, breaking news platform, Benzinga Pro.

• Piper's Munster Does Not See Competition on iPhone Threatening, Sees Returning Optimism Around Device
• Sees iPhone Returning to Some 'Decent Growth'
• Believes 'China Should Be Performing Better' for Apple
• Sees Apple Continuing to Grow Services Businesses as Helping to Diversify Away from the iPhone
• on a Possible Apple Car: It's a Huge Addressable Market, Believes Apple Could Compete with Tesla, Maybe Even Buy the Co.
• Offers Scenario: If Apple Sold ~2M Cars (About Equal to BMW), Could Add ~$120B in Sales
• Talking Apple TV: Does Not Think Co. Would Acquire for Content, Instead Would Pay Up for Content Licensing
• Believes An Apple TV Offering a 15-Channel Package for Maybe $30/Month 'Is in the Cards' Over the Long Term
• on Downside in Apple This Morning: This Could Be A One Year Trade Opportunity, 'These Are Your Opportunities To Own Great Cos. Ahead of Product Cycles'

Shares of Apple last traded below the all-important $100 level at $96 even, down nearly 8 percent from Tuesday's close.