On January 15 we posted a report titled "Is Wall St. Transitioning Apple from a Growth to a Value Stock?" Some will say that Apple being added to the Dow Jones back in March 2015 replacing AT&T was the first sign that Apple was preparing for being a value stock. Aswath Damodaran, finance professor at the Stern School of Business at New York University says it might take a while for investors to swallow the transition from growth to value." Yet the jury is still out as to whether Apple is a traditional value stock, as the mix between growth and value funds are still seeing Apple on the growth side of the equation. Well, at least for now.

Apple's shares continued to sink today and by the close of the market, it was down slightly over 6.5% amid a slew of analyst downgrades after Tuesday nights' earnings revelations. But some people were cheering that the uncertainty that was dragging the stock has finally lifted, Munster told CNBC's "Squawk Alley."

"Investors don't want to hear this today, but this is actually what a lot of people wanted," said Gene Munster, managing director and senior research analyst at Piper Jaffray. "And the reason is, if you have the foresight to look to the middle and back half of this year, the comps are going to get easier."

In contrast, FBR believes the growth issues are part of a near-term situation that can be resolved at the start of Apple's next iPhone cycle. "Ultimately, it comes down to iPhone 7. That's really what you're really hanging your hat on," Ives said, noting that growth of 240 million units could be on the horizon." Until that time arrives, the Apple hangover is bound to give some shareholders a major headache.

The good news for some, if you can call it that, is that Apple's CEO made it clear yesterday afternoon that they lost about $80 billion in the global currency crisis. Absent that problem, Apple's revenue would have been much higher than expected. And although Tim Cook spent an enormous amount of time detailing the currency crisis Apple was dealing with the entire quarter, that hidden message got little attention in the press as expected. Yet I think it was a powerful, carefully crafted message from Tim Cook which should give shareholders hope that much brighter days are ahead in the medium term.

Last Friday we posted a report titled "Apple Could Announce Close to $18 Billion in Profits on Tuesday, a World Record for any Public Company Ever." Well, Apple's CEO announced yesterday that Apple hit $18.4 billion in net profit, which means that broke the world record. If you're a shareholder, you've got to be smiling, regardless of the expected noise being heard on Wall Street today.

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