How Apple May ‘Get Its Mojo Back’

Friday, 3 May 2013 | 6:06 PM ET
Apple May 'Get Its Mojo Back': Josh Brown
Friday, 3 May 2013 | 5:14 PM ET
One factor in Apple's plans could mean the resurgent stock has a bright future, Josh Brown of Fusion Analytics says.

A major upgrade to Apple's iPhone operating system could the start of a resurgence for the company's share price, Josh Brown of Fusion Analytics said Friday.

"There's no new product, but that could be a really, really positive sign for people who are waiting for Apple to get its mojo back," he said.

Brown noted that the iOS 7 software was being designed by the well-respected Jony Ive, the senior vice president of Apple's Industrial Design department.

Shares of Apple climbed 1 percent to close at $449.98 and continued to gain in after-market trading.

On CNBC's "Fast Money," Karen Finerman of Metropolitan Capital Advisers said that positive catalysts for the stock included Apple's share repurchase program and increased dividend to shareholders.

The shift helped Apple stock climb and once again make the company the world's largest by market capitalization this week.

But, Finerman noted, "It was an awful seven months before that."

Stuart Frankel's Steve Grasso offered, "Don't short a dull market."

Apple shares had been struggling for weeks to break the $415 level, he added.

"Once it took that out, it's that slow creep back to 500 when a lot of these capital allocations are out of the way," Grasso said.

Trader disclosure: On May 3, 2013, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Steve Grasso is long AAPL; Steve Grasso is long ASTM; Steve Grasso is long BA; Steve Grasso is long BAC; Steve Grasso is long GDX; Steve Grasso is long GOOG; Steve Grasso is long LF; Steve Grasso is long LNG; Steve Grasso is long MHY; Steve Grasso is long MJNA; Steve Grasso is long PXD; Steve Grasso is long NVIV; Steve Grasso is long PFE; Steve Grasso is long S; Steve Grasso is funds long AAPL; Steve Grasso is funds long MSFT; Steve Grasso is funds long HPQ; Steve Grasso is funds long NEM; Steve Grasso is funds long ZNGA; Josh Brown is long AAPL; Josh Brown is long XLU; Josh Brown is long GOOG; Josh Brown is long F; Josh Brown is long VAW; Brian Kelly is long BK CORP; Brian Kelly is long TLT TREASURIES; Brian Kelly is long JJG; Brian Kelly is short EWG; Brian Kelly is short FXE; Brian Kelly is short FXY; Brian Kelly is short EURO; Karen Finerman is long AAPL; Karen Finerman is long BAC; Karen Finerman is long C; Karen Finerman is long JPM; Karen Finerman is long TGT; Karen Finerman is long GOOG; Karen Finerman is long GM; Karen Finerman is long M; Karen Finerman is long FINL; Karen Finerman is long FL; Karen Finerman is long FS; Karen Finerman is long MAY PUTS.

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