Steve Grasso On Apple: 'I Think It's Going To Underperform Perpetually'

Steve Grasso, director of institutional sales at Stuart Frankel could probably count himself as an uber-bear when it comes to Apple Inc. AAPL

Speaking as a guest on CNBC, Grasso started off by saying many investors like to jump on the Apple "bandwagon when it serves their purpose" but also "love to hate it when it serves their purpose as well."

Grasso continued that investors are looking forward to the iPhone 7 launch, but he believes it can "only disappoint."

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"iPhone sales as a whole are decreasing," he explained. "The company is still relying on iPhone sales and I would be a seller on any short term strength."

When asked to press if his view is short-term in nature, he answered that Apple's stock has actually underperformed relative to the technology ETF and investors looking for growth in the technology sector should buy shares of Facebook Inc FB or Amazon.com, Inc. AMZN.

"The ECB and the Fed have pushed people into risk assets," he added. "Apple's really not a risk asset - it's just benefited from everyone getting pushed into the market."

"I think it will under perform perpetually," he concluded.