GO
Loading...

The (Steve) Jobs Report

The U.S. economy is expected to have lost 50,000 jobs in March, explains Dylan Ratigan. However, Apple has sold 3 million iPhones as of January 15th. And on Thursday Apple's iTunes online music store surpassed Wal-Martto become the largest music retailer in the United States. Might healthy sales at Apple mean the economy is better than economic data suggests?

Zachary Karabell, Fred Alger Management, joins the panel for this conversation. Following is a synopsis of his main points.

It doesn’t make sense to me that everything is bad in the economy, says Karabell. Of course the mortgage crisis is serious but it doesn’t touch everyone. In fact, there’s no question in my mind that there are multiple economies.

What does that mean?

People who buy Apple products aren’t the same people involved in the mortgage mess, for the most part. And Apple sales appear to be strong. That suggests to me there’s at least a section of the economy that’s prospering.

Would you trade it?

Yes, that’s what I think investors should focus on because it’s probably what will take the economy forward. Again, I’m not saying the economy isn’t weak, I’m just saying focus on the pockets of strength. And do that by looking at the companies that provide the products people want.

______________________________________________________
Got something to to say? Send us an e-mail at fastmoney-web@cnbc.com and your comment might be posted on the Rapid Recap. If you'd prefer to make a comment but not have it published on our website send your e-mail to fastmoney@cnbc.com.

Trader disclosure: On Apr.3, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Macke Owns (MSFT), (YHOO); Najarian Owns (XLF), (AAPL), (CSCO); Najarian Owns (MER) Puts; Najarian Owns (AA) Calls; Finerman Owns (GS), (NYX), (MO), (MSFT), (FNM), (VLO), (SUN), (TSO), (FNM); Finerman is Short (GLD)

Symbol
Price
 
Change
%Change
WMT
---
AAPL
---

Featured

Contact Fast Money

  • Showtimes

    Halftime Report - Weekdays 12p ET
    Fast Money - Weekdays 5p ET

Halftime Report