Is Apple’s Rotten Run Over?
Online Producer
Apple stock gained on Tuesday, but does that mean it's time to get back into the trade?
StockMonster's Guy Adami didn't think so. "Maybe above $485," he said, adding that the stock was "still in no-man's land."
Apple closed at $457.84 per share, up 3.5 percent.
On "Fast Money," Adami reiterated his preference for another tech play.
"I've said all along Qualcomm was a better play," he said.
EmergingMoney.com's Tim Seymour saw shares of Apple in a positive light.
(Read More: Apple 'Worth a Lot More': Damodaran)
"I would rather be long Apple against the S&P here," he said.
Seymour also liked Apple over one of its leading competitors in the smartphone space.
"I'd also rather be long against Samsung, which I think is a better company, because on a risk-reward basis, again, look at where the S&P is, look at where Apple is on a valuation basis," he said. "This is, to me, totally a reversion-to-the-mean trade, and this is nothing more than a nine-month look."
"If Apple is not working, Samsung is not going to work either, and I would also look at that side of the trade," he added.
Trader disclosure: On Feb. 5, 2013, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Tim Seymour is long AAPL; Tim Seymour is long BAC; Tim Seymour is long F; Tim Seymour is long GM; Guy Adami is long C; Guy Adami is long GS; Guy Adami is long INTC; Guy Adami is long AGU; Guy Adami is long MSFT; Guy Adami is long NUE; Guy Adami is long BTU; Dan Nathan is long FB MARCH 34 CALLS; Dan Nathan is long SPY FEB 149 PUTS; Dan Nathan is long SDS.
