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Apple Could Rally on Small Miss: Taner

Apple stock could rally even if it posts a small quarterly loss, Enis Taner of RiskReversal.com said Wednesday on CNBC.

"I actually think the sentiment has gotten so negative that the company doesn't need to do too much for the stock to rally," he said. "In fact, I expect that even a small miss might send the stock higher simply because the worst fears were overblown."

On "Fast Money," Taner also said that looking forward, the bigger issue was second-quarter guidance from apple.

"If there's a big miss, it's a different issue. If it's a big beat, it's a different issue," Stephen Weiss of Short Hills Capital said.

"After that dies down, what we're going to come back to is the product schedule," he added. "So, what are the new products? Because that's what you really need to drive the stock higher."

OptionMonster's Jon Najarian saw more potential abroad for Apple.

(Read More: Bet on an Apple Beat: Sacconaghi)

Acknowledging that competitors such as Nokia already has phones carried by the likes of China Mobile, Najarian added that he did not expect Apple to become part of that network.

"I think they're going to be there," he said. "They're going to be in more emerging markets."

Trader disclosure: On Jan. 23, 2013, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Jon Najarian is long AAPL CALL SPREADS; Jon Najarian is long GOOG CALL SPREADS; Jon Najarian is long IBM CALLS; Jon Najarian is long ISRG CALL SPREADS; Jon Najarian is long CREE CALLS; Jon Najarian is long NFLX PUTS; Jon Najarian is long D CALLS; Steve Weiss is long RIMM; Steve Weiss is long WLT; Steve Weiss is long FB; Pete Najarian is long AAPL; Pete Najarian is long BAC CALLS; Pete Najarian is long JPM CALLS; Pete Najarian is long RIMM CALLS; Pete Najarian is long SBUX; Pete Najarian is long FB; Pete Najarian is long FB CALLS; Pete Najarian is long MSFT; Pete Najarian is long WLT CALLS; Enis Taner is long GS; Enis Taner is long YHOO; Enis Taner is long AAPL CALL FLY; Enis Taner is long FB PUT FLY; Enis Taner is long SPY PUTS;

For Toni Sacconaghi
Bernstein currently makes a market in the following companies AAPL / Apple Inc.


Symbol
Price
 
Change
%Change
AAPL
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NOK
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941
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