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Apple [AAPL Loading... ()
] stock rose Monday ahead of the release of the new iPhone on Friday that works on 3G, or third-generation, wireless networks, and supports satellite navigation. An 8-gigabyte model will cost $199, and a 16 GB model will cost $299.In a client note Monday, BMO Capital Markets analyst Keith Bachman said that Apple could run out of iPhones soon after launching the updated device, citing "some recent production yield issues." Still, he thinks the company "will be able to catch up with phone demand during the quarter."
Piper Jaffray upgraded Broadcom [BRCM
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] and Juniper [JNPR
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] explains Pete Najarian. If the iPhone is effective those companies stand to benefit from the infrastructure buildout. And Apple could explode.
I like the derivative plays more, adds Jeff Macke. As a trade I’d be on the other side of any move you get on the release of the product.
Also, in the space, I think RIMM [RIMM
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] looks good, says Pete Najarian. But valuations are a little high.
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Trader disclosure: On July 7, 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 (ATVI), (WMT), (DIS), (MSFT); Najarian Owns (AAPL), (NOK), (TSO), (XLF), (XTO), (FNM), (ANR); Najarian Owns (FNM) Puts, (MER) Puts; Najarian Owns (RIMM) Calls, (SLB) Calls; Adami Owns (AGU), (BTU), (C), (GS), (INTC), (MSFT), (NUE); Finerman's Firm Owns (GE), (MPG), (MSFT), (SUN), (TSO), (VLO); Finerman's Firm And Finerman Own (PDE); Finerman's Firm Owns SPX Index Puts; Finerman's Firm And Finerman Own (C) And (C) Leaps; Finerman's Firm And Finerman Own (FLS); Finerman's Firm Is Short (SPG), (IYR), (IJR), (MDY), (SPY), (IWM); Finerman's Firm Is Short (XME) And Owns (XME) Puts
GE Is The Parent Company Of CNBC; NBC Universal Is The Parent Company Of CNBC; Vivendi Owns 20% Of NBC Universal, The Parent Company Of CNBC
Terranova Is Long Dollar Index Futures; Terranova Owns (SU); Phoenix Investment Partners Ltd. Is Long (XOM), (COP), Chevron
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