Why Apple CEO Tim Cook Needs Dr. Dre

-- Though Gene Munster, senior research analyst at Piper Jaffray, may be the biggest critic yet of Apple's reported $3.2 billion acquisition of Beats Electronics, even he admits there is one potentially valuable asset in the purchase.

And it's not the "coolness" factor from the high-end headphone brand and its co-founder Dr. Dre, said Munster, who would have preferred Apple spend the $3.2 billion on acquisitions that strengthen Apple's position in Internet services (such as Yelp, Twitter and Square), which he believes is Apple's "biggest weakness."

Instead, one of the most valuable parts of the reported acquisition would be Beats co-founder and CEO Jimmy Iovine, who may reportedly join Apple as part of the acquisition, The Wall Street Journal reported.

"I fully appreciate how big Jimmy Iovine is in the music industry," Munster told ABC News. "Apple understands they can make this stuff themselves. It's easy to do. But I think there's a harder order in play, and that's in management."

Iovine, who is also co-founder of Interscope Records and chairman of Interscope Geffen A&M, is "the guy in music," Munster said, in part because he is the visionary behind the streaming phenomenon that shifted the music business model.

"For the acquisition to make sense, he needs to take what he's done in music and bring it into the deal," Munster said.

And how can Iovine do that? Iovine can provide what Apple has been trying to do: providing new ways to consume video through Apple products, Munster said.

"Music is in the grand scheme of things, but not as important as video," he said.

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Though Dr. Dre and Apple CEO Tim Cook may be an unusual match, Munster said he can see Iovine and Cook "getting along like ham and eggs."

A spokesman for Apple declined to comment. Beats did not respond to a request for comment from ABC News.

Munster said he doesn't believe the acquisition indicates Apple is struggling to innovate. Instead, Munster said it's a sign Apple needs help in content.

"To pay $3 billion for hardware is a bad idea. There's no question about that. I think it does signal a desire really. He's a baller," Munster said of Iovine. "There's no other way to put it."