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Trading Apple's Eco-System

What are the second derivative trades in the wake of stronger than expected iPhone, iPod and Mac sales?

Apple's results moved a string of related names on Wednesday, one day after earnings. They follow:

Apple Ecosystem: Movers Off Apple Earnings

Linear Tech – 2%
Broadcom –1%
Texas Instruments –1%
Skyworks –0.4%
Triquint +2%
Cirrus Logic +2
LG Display +3%

What’s the trade?

I’d be a buyer of LPL, says Tim Seymour.

As far as I’m concerned the best derivative trade off Apple is long Best Buy, says Joe Terranova.

In the space I like Sprint , adds Brian Kelly, for their leadership in 4G.

I’d look at Akamai, says Pete Najarian. In a tape that didn’t work, that stock worked well.



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Trader disclosure: On Apr 21, 2010, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Terranova Is Short June 2010 Crude Oil; Terranova Is Long December 2011 Crude Oil; Terranova Is Short Australian Dollar; Terranova Is Short Japanese Yen; Terranova Is Short Gold; Terranova Is Short (PCLN); Terranova Is Short (BRE); Terranova Is Long Japanese Yen; Terranova Owns (C), (XCO), (SWN), (TER), (HES), (AXP), (XCL); Terranova Owns (C) May Calls; Scaramucci Owns (GS), Skybridge Owns (GS); Najarian Owns (C) Calls;Najarian Owns (CLF) Call Spread; Najarian Owns (GLW) Call Spread; Najarian Owns (MRVL); Najarian Owns (UNP); Najarian Owns (YHOO) Call Spread; Kelly Owns (CXW) Calls; Kelly Owns (FXE) Puts; Scaramucci Owns (CIT), Skybridge Owns (CIT)

For Joe Terranova
Terranova Works For (VRTS)
Terranova Is Chief Market Strategist Of Virtus Investment Partners, Ltd.
Virtus Investment Partners Owns More Than 1% Of (XLU)
Virtus Investment Partners Owns More Than 1% Of (IGE)
Virtus Investment Partners Owns More Than 1% Of (XLY)
Virtus Investment Partners Owns More Than 1% Of (DBV)
Virtus Investment Partners Owns More Than 1% Of (XLP)
Virtus Investment Partners Owns More Than 1% Of (XLB)
Virtus Investment Partners Owns More Than 1% Of (XLV)
Virtus Investment Partners Owns More Than 1% Of (XLI)

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

For Brian Kelly
Kanundrum Capital Is Short (STT)
Kanundrum Capital Is Short (MCO)
Kanundrum Capital Is Short (DB)
Kanundrum Capital Owns (SRCL)
Kanundrum Capital Owns (CCI)
Kanundrum Capital Owns (S)
Kanundrum Capital Owns (SRCL)
Kanundrum Capital Owns (MORN)
Kanundrum Capital Owns (RAX)
Kanundrum Capital Owns (TLT)
Kanundrum Capital Is Long U.S. Dollar
Kanundrum Capital Is Short Euro
Kanundrum Capital Is Short Yen
Kanundrum Capital Is Short Swiss Franc
Kanundrum Capital Is Short (EWH)

For Jared Levy
Peak6 Investments Is Long And Has An Options Position In (GS)
Peak6 Investments Is Long And Has An Options Position In (JPM)
Peak6 Investments Is Long And Has An Options Position In (BAC)
Peak6 Investments Is Long And Has An Options Position In (CBI)
Peak6 Investments Is Long And Has An Options Position In (WFC)
Peak6 Investments Is Long And Has An Options Position In (AAPL)
Peak6 Investments Is Long And Has An Options Position In (LLTC)
Peak6 Investments Is Long And Has An Options Position In (TXN)
Peak6 Investments Is Short And Has An Options Position In (MS)
Peak6 Investments Is Short And Has An Options Position In (XLF)
Peak6 Investments Is Short And Has An Options Position In (MCO)
Peak6 Investments Is Short And Has An Options Position In (STT)
Peak6 Investments Is Short And Has An Options Position In (RIMM)
Peak6 Investments Is Short And Has An Options Position In (BRCM)
Peak6 Investments Is Short And Has An Options Position In (SWKS)
Peak6 Investments Is Short And Has An Options Position In (FCX)
Peak6 Investments Is Short And Has An Options Position In (EBAY)
Peak6 Investments Is Short And Has An Options Position In (AMZN)
Peak6 Investments Is Short And Has An Options Position In (SBUX)
Peak6 Investments Is Short And Has An Options Position In (SRCL)
Peak6 Investments Is Short And Has An Options Position In (QQQQ)

For Mark Mahaney
Citigroup Global Markets Or Affiliates Owns 1% Or More Of (NFLX)
Citigroup Global Markets Is A Market Maker In (NFLX)
Citigroup Global Markets Or Affiliate Received Non-Investment Banking Compensation From (AMZN) In Past 12 Months
(AMZN) Is Or In Past 12 Months Was A Client Of Citigroup Global Markets (Non-Investment Banking, Securities-Related Services)
Citigroup Global Markets Is A Market Maker In (AMZN)
Citigroup Global Markets And/Or Affiliates Has A Significant Financial Interest In Relation To (AMZN)



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