Is it possible that Apple is so popular it might even be immune to this miserable economy?
Like we said on Tuesday, it’s not apple pie that America loves – it’s Apple! According to a recent survey Apple outpaces all it’s competition in customer satisfaction. In fact, the gap between Apple and rival Dell is one of the widest margins ever seen.
And it doesn’t seem to matter that some customers who shelled out $199 for Apple's newest gizmo flocked to message boards in recent weeks, posting complaints about dropped calls and spotty wireless broadband connectivity. Americans are still willing to stand in line for iPhones and accept that they might even be wait listed.
But that’s not all. Oh no. Apple fans are equally excited about the new Macbooks. To them size matters! The new device is just three-quarters of an inch thick, and able to fit into a standard manilla envelope.
And it's not just tech heads that are going Apple crazy. Nope, it's people like your mother or your father or even you! Apple-mania is sweeping the nation. In fact, Apple is so popular they might even be immune to this miserable economy.
”When Apple comes out with new products they tend to sell,” says Piper Jaffray analyst Gene Munster. “I was at their new store in China and it was packed. People all over the world want their products and that’s especially good going into the Holiday season.”
If you’re looking for a trade Munster recommends getting long, now! “I think this is the time to own Apple,” he adds “Typically the stock climbs 40% from now to the end of the year. And there are probably new products coming. The Street numbers are far too low. This is the opportunity.”
I agree, says Joe Terranova. Apple tends to be a cyclical trade and I’m long.
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Trader disclosure: On Aug 19, 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 (WMT), (MSFT); Adami Owns (AGU), (C), (BTU), (GS), (INTC), (MSFT), (NUE); Jon Najarian Owns (MRVL) Calls, (BRCM) Calls, (CSIQ) Calls; Jon Najarian Owns (AAPL) And (AAPL) Calls; Jon Najarian Owns (C), (CSCO); Jon Najarian Owns (TSO) Call Spreads; Jon Najarin Owns (NVDA) And (NVDA) Call Spreads; Jon Najarian Owns (XTO) Call Spreads; Terranova Owns (AAPL), (BNI), (CME), (EOG), (FCX), (GS), (GOOG), (INTC), (KOL), (NOV), (POT), (RIMM), (SA), (XLF), (SU), (X), (VLO), (YHOO); Terranova Owns (AIG) Puts; Terranova Is Short Crude Oil Time Spread (Short Dec. 2009, Long Dec. 2012); Terranova Is Long Crude Oil Futures (Dec. 2012)
Terranova Is Chief Alternatives Strategist Of Phoenix Investment Partners, Ltd.; Phoenix Investment Partners Owns More Than 1% Of (ABD), (ARE), (BRE), (CNTY), (CLB), (OFC), (DLR), (ESS), (EXR), (FL), (IAT), (IGE), (LNET), (MAC), (OIIM), (PSPT), (DBC), (DBV), (SLB), (SKT), (BLV)
Terranova Is Co-Portfolio Manager Of The Phoenix Diversifier PHOLIO; Phoenix Diversifier PHOLIO Owns (IGE), (DBC), (DBV)
(FMCN) Has Been An Investment Banking Client Of Piper Jaffray In Past 12 Months; Other Conflicts Of Interest For Gene Munster/Piper Jaffray: Underwriting (FMCN); Piper Jaffray Received Non-Investment Banking Securities-Related Compensation From (MCHX), (VCLK) In Past 12 Months; Piper Jaffray Is A Market Maker In (AAPL), (AMZN), (BIDU), (EBAY), (FMCN), (GOOG), (GSIC), (IACI), (MCHX), (PRTS), (SINA), (SOHU), (SYMC), (VCLK), (WWWW), (YHOO)