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Apple Stock ‘Needs a Bit of Clarity’: Pro

Friday, 7 Jun 2013 | 2:12 PM ET
Apple Stock 'Needs a Bit of Clarity': Pro
Friday, 7 Jun 2013 | 12:57 PM ET
Ahead of the Apple Worldwide Developers Conference next week, Mike Santoli of Yahoo! Finance says that the stock would benefit from news of the company's next growth driver.

Ahead of the Apple Worldwide Developers Conference, Mike Santoli of Yahoo Finance said Friday that the stock would benefit from news of the company's next growth driver.

"I think it's just a little bit of clarity on what the next thing might be, what kinds of things will drive the next phase of whatever product development is going to be there," he said.

(Watch Video: Apple Will Announce iRadio Monday)

Apple's stock price declined in early trading, spiking during the interview and then backing off to the $441.53 level, or up 0.7 percent at 2 p.m. ET.

(Read More: Apple Stock Price Bottom May Be In as CEO Steps Up)

Apple Stock Heading to $500: Gundlach
Revered and then reviled, shares of Apple have further to climb, according to DoubleLine CEO Jeffrey Gundlach.

On CNBC's "Fast Money," Santoli had noted that shares of Apple in past years have generally trended upward ahead of the WWDC, held June 10-14 in San Francisco.

(Read More: Apple's Next 'Wild Card' May Not Be What You Think)

The fact that the stock had not done so, he added, could be "a net positive because it's a more likelihood to be an upside to a downside on any announcements."

(Read More: Apple Stock Heading to $500: Jeff Gundlach)

But for the stock to move up in the longer-term, Santoli added, Apple needed to provide "a runway of what we're looking at product-wise," he said.

Trader disclosure: On June 7, 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 Weiss is long AAMRQ; Steve Weiss is long QCOM; Steve Weiss is long BAC; Steve Weiss is long BBRY; Jon Najarian is long YUM; Jon Najarian is long AAPL; Jon Najarian is long COP; Jon Najarian is long LPX; Jon Najarian is long NTAP; Jon Najarian is long OC; Jon Najarian is long UVXY; Jon Najarian is long HD; Jon Najarian is long SJM; Jon Najarian is long EEM PUTS; (AS OF 6/5) Pete Najarian is long AAPL; Pete Najarian is long AAPL CALLS; Pete Najarian is long C CALLS; Pete Najarian is long JPM CALLS; Pete Najarian is long MS CALLS; Pete Najarian is long XLF CALLS; Pete Najarian is long INTC CALLS; Pete Najarian is long YHOO CALLS; Pete Najarian is long BBR; Pete Najarian is long SBUX; Pete Najarian is long FB; (AS OF 6/4) Simon Baker is long AAPL; Simon Baker is long C; Simon Baker is long CSCO; Simon Baker is long YHOO; Simon Baker is long FB; Simon Baker is long GOOG; Simon Baker is long EBAY; Simon Baker is long PCLN; Simon Baker is long GM; Simon Baker is long VIAB.

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