Can Apple compete with Netflix on streaming?

Loup Ventures Managing Director Gene Munster on Apple preparing to launch a streaming service, the mounting competition among streaming services and concerns over the outlook for Tesla.

Apple is rumored to be launching a new streaming service on Monday, stoking the fire of an already-heated field of streaming competitors. Can Apple feasibly compete with the established giants?

"Apple is five years behind where Netflix is at," Loup Ventures Managing Director Gene Munster Munster explained to FOX Business' Stuart Varney on Thursday. "But they still have a huge opportunity here... they have this trust and 'high-quality' aspect around their brand."

Munster added that Apple's distribution numbers dwarf Netflix's reach. Apple has 1.4 billion devices that are active around the world compared to Netflix's 150 million subscribers.

"They did this exact same thing when they were late to the game in streaming music and they quickly caught up to Spotify," Munster said.

However Munster said although some streaming services have higher subscriber counts than others, no clear leader will emerge amongst the field.

"If you look at just the raw number of users, Apple has just as good of an opportunity to be a leader as Netflix. It's going to be one of those two," he said.