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Gillis: Top Tech Pick Not Apple, Google

One name is positioned well in the event that consumer spending declines in the spring — and it isn't Apple or Google, Collin Gillis of BGC Partners said Tuesday on CNBC.

"You want exposure to mobile. You want exposure to e-commerce. You want all these nice tailwinds. Let's buy eBay. EBay is the mobile leader. You've got payments, and you've got the Marketplace," he said.

"The nice part is eBay is a trade-down. So when you go to eBay, you can buy new goods, you can buy refurbished goods and you can buy used goods," he added. "If there is a slowdown in the consumer, eBay actually well positioned for it."

Gillis, whom Fortune magazine named the No. 1 Apple earnings forecaster, said that the iPhone maker's stock still had some growth potential.

"I think there is some upside here. I see it trading in line with the major averages," he said. "I think once that cash comes back, that'll give you a little bump. Once some new products come out, that'll give you a little bump as well."

On "Fast Money," Gillis also said that he didn't think activist investor David Einhorn's lawsuit to force Apple to issue preferred stock would do much for its price.

"It doesn't mean that Apple's going to go and issue that preferred that he wants," he said. "When a company issues a dividend, they tend to increase it a year later."

Right now, Gillis saw a need for an Apple catalyst.

"We've got a big vacuum right now in terms of the product launch cycle," he said. "A watch could be nice. Wearable computing is a big, next phase."

But a wearable watch wouldn't necessarily be a slam-dunk.

"Google seems to be very much on top of that. Samsung seems to be very much on top of that," he said. "So the chance that Apple has a lead like it's had with tablets and phones and wearable computing is likely to be slimmer."

Gillis also warned against betting too strongly on Google, noting that the stock has had "six sell-offs north of 10 percent, and three of those have happened in the March quarter."

He expected that the March quarter for consumer activity could be "less than stellar."

What does that mean for Google stock?

"I think it'll be below $800 this spring," he said.

Trader disclosure: On Feb. 19, 2013, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Karen Finerman is long AAPL; Karen Finerman is long BAC; Karen Finerman is long C; Karen Finerman is long JPM; Karen Finerman is long WMT; Karen Finerman is long TGT; Karen Finerman is long MSFT; Karen Finerman is long GOOG; Karen Finerman is long GNC; Karen Finerman is short SPY; Karen Finerman is short IWM; 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; Josh Brown is long AAPL; Josh Brown is long WFC; Josh Brown is long GDX; Josh Brown is long GLD; Josh Brown is long XLU; Josh Brown is long TLT; Josh Brown is long XLF; Josh Brown is long TGT; Josh Brown is long SBUX; Tim Seymour is long AAPL; Tim Seymour is long BAC; Tim Seymour is long INTC; Tim Seymour is long WMT; Tim Seymour is long SBUX; Tim Seymour is long GFI;

For Keith Moore
Neither I nor any member of my household has a financial interest in any covered company to be discussed; Any subject company to be discussed is not currently or within the last 12 months a client of MKM; MKM does not make a market in any covered company to be discussed; MKM does not perform investment banking functions for any covered company to be discussed;

For Colin Gillis
Investment banking (next 3 months): BGC Financial LP and/or its affiliates, expect to receive, or intend to seek, compensation for investment banking services within the next three months from all of the companies referenced within this report: GOOG; Investment banking (next 3 months): BGC Financial LP and/or its affiliates, expect to receive, or intend to seek, compensation for investment banking services within the next three months from all of the companies referenced within this report: AAPL.

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