Apple's much-anticipated iPhone 7 release date has been set for September 7, and that's not all. The Cupertino-based company is also working on a new MacBook Pro laptop line for the first time in four years.

According to a Bloomberg report that cited people familiar with the matter, the MacBook Pro line of notebooks will not be launched on Sept. 7 when Apple unveils its next-generation iPhone. Everyone expected the iPhone 7 to be launched in the fall, but now, there seems to be a clear date.

The iPhone 7 release date comes at a time when Steve Grasso, director of institutional sales at Stuart Frankel, said in a CNBC segment that Apple's stock is going to underperform "perpetually."

Grasso called Apple's reliance on the iPhone a problem hurting the stock. The reason being that analysts are expecting the iPhone 7 to not be as big of a hit as its past iPhone iterations.

"Right now, everyone is looking forward to the iPhone 7 ? I think it can only disappoint," Grasso said.