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Fast Money HomeFast Money Rapid RecapAbout Fast MoneyFast Money BiosFast Money Web ExtraFast Money Disclaimer
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Jun.27
6:16 PM ET
Friday, 27 Jun 2008
Forget Banks, Blame Tech

Research In Motion [RIMM  Loading...      ()   ] might need a little more BlackBerry juice. On Friday, Credit Suisse set a $100 price target for the stock with an underperform rating. (In case you’re wondering, that’s about 20% lower than where the stock is trading right now.)

Analyst Kulbinder Garcha was rather bearish on the company’s prospects over the next 12 months, saying RIMM will likely lose market share in North America causing earnings momentum to slow.

Meanwhile, Oracle [ORCL  Loading...      ()   ] and Google [GOOG  Loading...      ()   ] also trended lower. The downturn comes despite a belief that tech is immune to the troubles vexing this market.

How should you trade it?

I like Research In Motion around $120, says Pete Najarian. I’m bullish on their long term prospects.

To me Oracle around $20.50 is a screaming buy, adds Guy Adami.


















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Trader disclosure: On June 27, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Adami Owns (AGU), (C), (BTU), (NUE), (GS), (INTC), (MSFT); Pete Najarian Owns (ANR), (TSO), (XLF); Pete Najarian Owns (AAPL) Calls, (EK) Calls, (QID) Calls, (RIMM) Calls, (YHOO) Calls, (WLT) Calls; Pete Najarian Owns (HRB) Puts, (MER) Puts, (HBC) Puts; Finerman Owns (GS); Finerman's Firm Owns (MSFT), (NYX), (SUN), (TSO), (MRK), (PPH); Finerman's Firm And Finerman Own (C) And (C) Leaps; Finerman's Firm Is Short (SPY), (IYR), (IJR), (MDY), (IWM); Finerman's Firm Is Short SPX Index Puts; Finerman's Firm Owns (VLO) And (VLO) Call Spreads; Terranova Owns (BNI), (CME), (FXC), (LUV), (GOOG), (FCX), (INTC), (IYT), (XLF), (SU), (YHOO); Terranova Owns Dollar Index Futures

Terranova is chief alternatives strategist at Phoenix Investment Partners;; Phoenix Investment Partners Ltd. Owns (RWX), (DBC), (DBV), (IGE), (AAI), (ALK), (AMR,) (APA), BP plc, British Airways plc, (CHK), (CVX), (COP), (CAL), (DAL), ENI SPA, (XOM), Gazprom, (HA), (HES), (HOC), (HSE), (JBLU), Lukoil, (MRO), (MUR), (OXY), Petrobras Intl Fin, Petro-Canada, (PBR), Petroleos De Venezuela, (QAN), (RJET), Royal Dutch Shell plc A Shares, (SKYW), (LUV,) (SU), (TSO), Texaco Capital, Total SA, (UAUA), (LCC), (VLO)

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