I think there’s an opportunity from a trading perspective, says Jeff Macke. I like it right here with the discipline to stop yourself at $80. But if it breaks lower it could go to $50.
They have $27 bucks a share in cash, counters Karen Finerman. It’s getting interesting from a value perspective.
Their earnings multiple makes me think the stock is fairly cheap, adds Pete Najarian.
But Apple is kind of like Toyota, adds Macke. Toyota went from looking very cheap on Friday to looking kind of expensive on Tuesday.
Apple is probably one of the names to buy if you believe the market is going to recover, adds Joe Terranova.
Taking a look at other tech stocks -- options action in Microsoft suggests that institutional investors expect upside in this stock by April, explains Pete Najarian.
WORST HOLIDAY SHOPPING SEASON IN 4 DECADES?
Just 38.7 percent of Americans went shopping during the final weekend before Christmas, the lowest turnout in at least six years, according to a survey released on Tuesday.
The traffic was especially weak in the Northeast and Midwest, which were hit by winter storms from Friday through Sunday. People who did shop flocked to stores offering deep discounts, led by Wal-Mart Stores .
There was, however, some good news from the Reuters/University of Michigan Surveys of Consumers, which rose to 60.1 in December from November's reading of 55.3 due to lower energy and retail prices after stores made radical markdowns to tempt shoppers.
American Eagle is worth a look as a value play, adds Karen Finerman. I own a little.
Retail rallies are made to be shorted, counters Jeff Macke. Come February or March I expect to see retailers in trouble due to solvency.
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Trader disclosure: On Dec. 23rd, 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 (SDS), (DIS), (MSFT), (MCD), (WMT); Najarian Owns (MSFT) Calls; Najarian Owns (UYG) And Is Short (UYG) Calls; Najarian Owns (XHB) Calls; Najarian Owns (HOLX) Calls; Finerman's Firm Owns (MSFT); Finerman's Firm Owns (OIH) Puts; Finerman's Firm Is Short (IYR), (IJR), (IWM), (SPY), (MDY), (BBT), (COF), (USO)
GE Is The Parent Company Of CNBC; NBC Universal Is The Parent Company Of CNBC
Terranova Is Co-Portfolio Manager Of The Virtus Diversifier PHOLIO; Virtus Diversifier PHOLIO Owns (IGE), (DBC), (DBV)
Terranova Is Chief Alternatives Strategist Of Virtus Investment Partners, Ltd.; Virtus Investment Partners Owns More Than 1% Of (ABD), (ARE), (BIG), (OFC), (DLR), (EXR), (IGE), (MAC), (DBC), (DBV), (SKT), (UA), (CLB); Virtus Investment Partners Owns More Than 1% Of Seagate Tax Refund Rights
CNBC.com with wires