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Gene Munster Talks About Apple's New Video Making App

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Gene Munster Talks About Apple's New Video Making App

Gene Munster was one of the most notable Apple Inc. (NASDAQ: AAPL) analysts until he co-founded a venture capital firm called Loup Capital late last year. But that doesn't mean the Apple pro no longer provides his expert analysis.

Munster was a guest on CNBC's "Squawk Alley" segment Tuesday to talk about Apple's new product lineup. Among the small handful of new products introduced on Tuesday, he highlighted the company's new app that makes it easy for users to edit video clips, photos and music, which can be shared through social media networks.

At first glance, Munster acknowledged it appears to be a competitor to Snap Inc (NYSE: SNAP)'s social media platform, Snapchat. However, Munster pointed out that Apple doesn't have an actual social media network and the company is still "learning about how they can influence augmented reality."

Social Network Or App Developments?

Munster further suggested that Apple's new app serves as an indication of the company's longer-term plan, which doesn't necessarily involve a direct move into the social media space.

"Longer term, the significance of augmented reality for Apple is having a place at the table in the future of computing, which will shift to AR," Munster said. "Separately is building their services business. And so, what they want to do is have app developers create these wicked great experiences that they can take 30 percent from. And so, that's the longer-term profitable significance of what you are seeing in Clips today."

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