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No Opportunity in Apple: Terranova

There are too many opportunities around to focus on Apple stock, Joe Terranova of Virtus Investment Partners said Wednesday.

"I don't see any opportunity in it right now," he said on CNBC's "Fast Money."

Terranova admitted that he had traded Apple stock "horribly" over the past year, but he said that the focus for investors should be elsewhere.

"There's too many other things right now in the marketplace that are working," he said. "There's too many other sources of capital that could be placed into a Nokia or a RIM."

Apple stock traded at $451.74 around 1 p.m. ET, down 1.7 percent after a report that the company's largest manufacturing partner, Foxconn Technology Group, announced a hiring freeze on its largest plant in China.

(Read More: Hiring Freeze at Apple Supplier Foxconn Plant)

Rosecliff Capital's Mike Murphy said the stock was a no-go.

"I think you want to stay away from it here," he said. "You want to sit back and look for direction."

Enis Taner of RiskReversal.com said it was starting to look attractive.

"I think anywhere near $435 to $440, I'd love to get involved," he added.

Tanner said that he thought the stock was nearing a bottom.

"I just think we're close to running out of sellers," he added. "It would be definitely a trading call, not an investing call."

OptionMonster's Pete Najarian had a clear opinion of Apple stock.

"It's a second-half story," he said. "There's no reason to have to put yourself in front of this bus right now."

Najarian said almost any other company was worth buying, including Facebook, Google and Netflix, whose content made him bullish.

(Read More: Netflix 'House of Cards' Nearly Trumps 'Girls': Survey)

"This stock's going higher," he said.

Trader disclosure: On Feb. 20, 2013, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Mike Murphy is long FB; Mike Murphy is long TOL; Enis Taner is long GS; Enis Taner is long TSLA CALL CALENDAR; Enis Taner is long QCOM PUT SPREAD; Enis Taner is long C PUT SPREAD; Enis Taner is long SPY PUTS; Pete 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; Pete Najarian is long BBRY; Pete Najarian is long SBUX; Pete Najarian is long FB; ;Pete Najarian is long MSFT; Pete Najarian is long PFE; Pete Najarian is long MRK; Pete Najarian is long MRK CALLS; Pete Najarian is long GSK CALLS; Pete Najarian is long JOY CALLS; Joe Terranova is long VRTS; Joe Terranova is long SJM; Joe Terranova is long MJN; Joe Terranova is long AXP; Joe Terranova is long JPM; Joe Terranova is long DIS; Joe Terranova is long FB; Joe Terranova is long BRKb; Joe Terranova is long GS; Joe Terranova is long SWN; Joe Terranova is long XOM; Joe Terranova is short EMINI S&P Futures March.

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AAPL
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NOK
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BB
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FB
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GOOGL
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NFLX
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