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Does Apple Have More Upside, After Earnings?

With investors cashing out their winners, will earnings be the catalyst that puts a ceiling on Apple stock? Or can this stock defy gravity?

Seems like a good time for Fast Money 360. Find out what fundamentals, technicals and insights from the options world all suggest lie ahead for this stock!

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FUNDAMENTALS

Canaccord Adams analyst Peter Misek is bullish. He tells the desk, “We'd be buyers of Apple going into the earnings.”

He’s excited about both the company’s computers and gadgets. “We think Macs did very well in the quarter. (Also) we think iPhones were solid with great catalysts ahead. Also, we think iPod touch was solid in the quarter also with some good refreshes with OS 4.0,” says Misek.

Going forward Misek has a $300 price target on the stock. “Lots of stuff on the horizon, great catalysts, lots of upside,” he concludes.

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CHARTS

Technical analyst John Roque of WJB Capital is also bullish.

He says patterns in Apple’s chart suggests “Apple can work above $300. The trend is very strong."

The only reservation he has is that “the stock might be a little bit overbought here.”

Roque concludes, “we'd be looking to buy it on any pullback or any consolidation.”

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OPTIONS

Brian Stutland of Stutland Equities is also an Apple bull.

He tells us, the options market is looking for a 7 to 8 percent move in Apple over the next 30 days.

He sees Apple going to about $280. ”Options traders are selling the 280 call out to July right now. So that’s probably your upside potential in the stock.

"I’d be looking to buy a 240 to 260 call spread, to some degree. Not outlying a ton of cash and by buying options premium.”

Anything else?

Apple is all about the Macs, reminds Pete Najarian. That's where all the profits are. That's the number I'll be scrutinizing.


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Trader disclosure: On Apr 19, 2010, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Karabell Owns (GS), (C), (IBM), (FCX), (MON); Jon Najarian Owns (XLF) Put Spreads; Jon Najarian Owns (MS), Is Short (MS) Calls; Jon Najarian Owns (BAC), Is Short (BAC) Calls; Jon Najarian Owns (C), Is Short (C) Calls; Jon Najarian Owns (JPM), Is Short (JPM) Calls; Jon Najarian (CME), (CME) Puts; Jon Najarian Owns A Seat On CME; Jon Najarian Owns (MCO) Puts; Grasso Owns (DYN), (LPX), (ASTM), (ABK), (AAPL), (BAC), (BGP), (C), (CVGI), (COST), (JPM), (NEM), (PRST), (WMT), (PFE), (BA), (T); Seymour Owns (BAC), (AAPL), (BAC), (FXI), (MSFT), (MPEL); Adami Owns (AGU), (C), (GS), (INTC), (MSFT), (NUE), (BTU); Pete Najarian Owns (C) Calls; Najarian Owns (YHOO) Calls; Finerman's Firm Is Short (IYR), (IJR), (MDY), (IWM); Finerman's Firm Is Long S&P Puts; Finerman Owns (AAPL); Finerman Owns (BAC), (BAC) Preferred; Finerman's Firm Owns (BAC), (BAC) Leaps; Finemran's Firm Owns (GLW); Finerman's Firm Owns (IBM); Finerman's Firm And Finerman Own (JPM); Finerman's Firm Owns (WFC) Preferred

For Tim Seymour
Seygem Asset Management Is Short (DB), (X), (VALE)
Karabell Owns (MON)

For Brian Kelly
Kanundrum Capital Owns (RAX)
Kanundrum Capital Owns (S)
Kanundrum Capital Owns (TLT)
Kanundrum Capital Owns (MORN)
Kanundrum Capital Owns (BX)
Kanundrum Capital Is Long U.S. Dollar
Kanundrum Capital Is Short (CME)
Kanundrum Capital Is Short Euro
Kanundrum Capital Is Short Yen
Kanundrum Capital Is Short Pound
Kanundrum Capital Is Short (XLV)

For Dennis Gartman
Funds Managed By Dennis Gartman Are Long Gold Futures
Funds Managed By Dennis Gartman Are Long Canadian Dollar And Australian Dollar

For Mike Khouw
Cantor Fitzgerald & Co. Is A Market Maker In (YHOO)

For Steve Grasso
Stuart Frankel And Its Partners Own (CUBA)
Stuart Frankel And Its Partners Own (GERN)
Stuart Frankel And Its Partners Own (HSPO)
Stuart Frankel And Its Partners Own (MERC)
Stuart Frankel And Its Partners Own (NWS.A)
Stuart Frankel And Its Partners Own (NXST)
Stuart Frankel And Its Partners Own (NYX)
Stuart Frankel And Its Partners Own (PDE)
Stuart Frankel And Its Partners Own (PFE)
Stuart Frankel And Its Partners Own (PRST)
Stuart Frankel And Its Partners Own (RDC)
Stuart Frankel And Its Partners Own (TLM)
Stuart Frankel And Its Partners Own (XRX)
Stuart Frankel And Its Partners Own (SDS)
Stuart Frankel And Its Partners Are Short (QQQQ)
Stuart Frankel And Its Partners Are Short (CL)
Stuart Frankel And Its Partners Are Short (AAPL)





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