Murphy has urged the Magpies to stick with the current manager, who he thinks is capable of keeping the Tyne and Wear club alive.
Bruce’s future is up in the air since the takeover of the English club by Saudi Arabia’s Public Investment Fund (PIF).
Many have suggested that the new owners will be looking to appoint a new manager to usher in the new era at the St James’ Park.
And the likes of Jose Mourinho, Antonio Conte, Graham Potter have all been tipped to take over but Murphy has urged the club to give Bruce the chance to continue as the Newcastle manager this season.
He told talkSPORT: “You’ve got to be careful not to try and run before you can walk. The situation Newcastle are in now is precarious.
“They’ve got a manager in charge at the moment who has been there and done it in the lower echelons of the Premier League and dealt with that scenario before – even at Newcastle.
“Is there somebody out there who they can bring in who is going to be more equipped than Steve Bruce? That is ultimately the question.
“You can talk about the pleasing of the fans and the masses. That doesn’t necessarily mean that you quickly get Bruce out and get someone in to do it better.
“I think they will get rid because that’s what the fans want and they are trying to keep everybody happy at the moment with the takeover.
“Who do they get in? There is no obvious candidate to come in for a relegation battle. There is a different conversation if you are asking me are there managers out there who are capable of working with new players, spending money and competing.
“Of course there are, there are lots of good managers out there.
“Coming into the Premier League, if you haven’t been in it before coming into a relegation battle and understanding how to win games that aren’t always going to be free flowing or easy on the eye – who’s out there more equipped than Steve Bruce at the moment?
“Nobody jumps out at me.”