Alex Gauna

Video faceoff: Munster vs. Gauna on the post-Jobs era

August 26, 2011: 5:54 AM ET

A lot of room to grow, says one. The beginning of the end, says the other.

Munster and Gauna. Source: CNBC

Few analysts have championed Apple (AAPL) as long or as loyally as Piper Jaffray's Gene Munster, who stuck his neck way out ahead of the pack with his early iPhone sales predictions.

Few analysts are more deeply reviled by Apple investors than JMP Securities' Alex Gauna, who has made quite a name for himself as an Apple naysayer. (See The day Apple landed in Gauna.)

We've met Munster several times over the years. He's a nice guy who usually returns our e-mails and phone calls. Gauna is a bit of a mystery. He doesn't answer our e-mails. Until Thursday, we'd never laid eyes on him.

So were were curious to see what would happen when the two appeared face to face on CNBC's The Call to talk about Apple's future in the post-Steve Jobs era.

They did not disappoint. Munster remains bullish and thinks Apple's products have plenty of room for growth. Gauna is skeptical. "This is the beginning of the end," he told viewers, adding that investors who are long the stock should look to diversify.

We've pasted the clip -- which begins with a two-minute stand-up from our former colleague Jon Fortt -- below the fold, along with a cleaned-up transcript of Munster and Gauna's exchange.

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