Trading the Battle Over Apple—Now What?
Online Producer
After David Einhorn increased his stake in Apple and Leon Cooperman and Dan Loeb dumped their Apple holdings, the CNBC "Fast Money" pros weighed in Friday on how to play the stock.
"I think you've got a potpourri of players to follow," Stephen Weiss of Short Hills Capital said. "In my view, it depends on what your time frame is. It depends on what your orientation is."
Weiss said he wasn't sure who would come out on top.
"Einhorn's good, but he does make mistakes," he added.
OptionMonster's Jon Najarian also said it would depend on an investor's style.
Noting that Cooperman was a value investor, Najarian said, "Those guys have pretty much hit the exits here."
Still, he saw potential in Apple stock.
"Never like betting against Lee, but as far as when stocks just have potential out there … and $137 billion in the bank, like I say, I think that Einhorn put is still there. The stock hasn't been able to violate this level to the downside," he said.
"So, if I were in Apple, which I'm not right now, I would say this continues."
Trader disclosure: On Feb. 15, 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 short puts in HLF; Jon Najarian is short puts in CSTR; Jon Najarian is short long call spreads in FRX; Jon Najarian is short long call spreads in LULU; Jon Najarian is short long call spreads in INCYPete Najarian is long AAPL; Pete Najarian is long BAC CALLS; Pete Najarian is long JPM CALLS; Pete Najarian is long MS CALLS; Pete Najarian is long YHOO CALLS; Pete Najarian is long BBRY; Pete Najarian is long BBRY CALLS; Pete Najarian is long SBUX; Pete Najarian is long FB; Pete Najarian is long MSFT; Pete Najarian is long GE; Pete Najarian is long BX; Enis Taner is long GS; Enis Taner is long SPY PUTS; Enis Taner is long C PUT SPREAD; Enis Taner is short QCOM PUTS SPREAD; Enis Taner is long TSLA Call Calendar; Stephen Weiss has nothing to disclose.
