Indomitable Apple: Shares Defy Gravity

It seems like Apple shares all but defy gravity. But with Dell getting into the smartphone market, is PC about to smack Mac?

There’s no denying the indomitable performance of Apple stock. It’s 3-month chart is as close to text book perfect as you can get.

And with uncertainty about the health of Steve Jobs a thing of the past, it seems this company is firing on all cylinders.

Will anything drag Apple shares back to earth?

Perhaps. Word came today that the iPhone may have a formidable competitor entering the foray.

Dell is partnering with AT&T to launch a new smartphone using Google’s software. And the phone could hit stores as soon as early next year.

The Wall Street Journal, citing people briefed on the matter, reported Dell's Android phone for AT&T would also come with a touch-screen, plus a camera.

Is it time for Apple shareholders to worry?

I don’t think so, says Brian Marshall, Broadpoint Amtech Senior Analyst. Apple is hands down the best technology company on the planet. And they only have less than 5% of the global handset market. In my opinion there is no reason they can’t double that share. As far as I’m concerned Apple is theee best tech company.

My price target is $210, adds Marshall. I just think numbers are going up.

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And in case you're looking for another tech trade Brian Marshall tells the desk he's also bullish on NTAP .

They're the number 2 player in the enterprise storage space, he says, and I think it's a secular growth market. Enterprise storage looks like it's going to be a huge part of the next generation of data centers. There are roughly 10,000 data centers on the planet with 80% built pre-Y2K. That's a huge upgrade cycle that's coming and NetApp should be one of the prime beneficiaries.

Marshall's price target is $30.

But before you go out and establish a long position in NTAP you should know that Marshall likes another name slightly better.

Of all the stocks in this space I think the best trade is Brocade, he says. They have the best valuation of all the companies out there.

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Trader disclosure: On October 8, 2009, 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), (GS), (INTC), (MSFT), (NUE), (BTU); Finerman's Firm Owns (UNH) Calls; Finerman's Firm Owns (MSFT), (TGT); Finerman's Firm And Finerman Own (WFC) Preferred; Finerman's Firm And Finerman Own (WMT); Finerman's Firm Is Short (USO), (IJR), (MDY), (SPY), (IWM), (UNG); Finerman's Firm Owns (BAC), (BAC) Call Spread, (BAC) Preferred; Finerman Owns (BAC), (BAC) Preferred; Finerman's Firm Owns (AET) Calls; Finerman's Firm Owns (WLP) Calls; Finerman's Firm Owns (RIG), Is Short (RIG) Calls; Finerman Owns (RIG); Pete Najarian Owns (BRCD) Calls; Pete Najarian Owns (C) Calls; Pete Najarian Owns (INTC), Is Short (INTC) Calls; Pete Najarian Owns (MYL) Calls; Pete Najarian Owns (STX) Calls; Pete Najarian Owns (WFC) Puts; Pete Najarian Owns (YHOO) Call Spread; Grasso Owns (AAPL), (ABK), (ASTM), (BAC), (C), (COST), (PRST), (V), (WMT), (FAZ)

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