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Apple: Yet Another Milestone For Tech Titan?

Wednesday, 23 Jun 2010 | 6:10 PM ET

Earlier in the week we posed the question – can Apple continue to wow the crowds? Evidently they can!

If estimates are accurate Apple will make another huge milestone – they’ll have sold 1 million iPhone 4 smartphones as of Thursday - according to BGC analyst Colin Gillis.

Tomorrow's Headlines Now
The Fast Money traders look at three headlines that might move markets tomorrow. They're joined by Ed Mills, an analyst at FBR, and Jim Whitehurst, CEO of Red Hat.

What must you know?

Because it's a cap weighted index, Apple is now 20% of the Nasdaq, explains Tim Seymour. In fact it's such an important part of the index if bears try and push it down it could make the Nasdaq topple.

In the space, I’m watching SanDisk, says Guy Adami, whose chips are used in Apple products. They win to what Apple does although valuations look rich.

Elsewhere in the mobile space, I like Sprint, says Brian Kelly.

Fast Money EP John Melloy writes about Apple’s milestone at length in his daily post. Click here to read "Will iPhone Sales Top One Million Mark Thursday?"




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Trader disclosure: On June 23, 2010, 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), (BTU), (NUE), (C), (GS), (INTC), (MSFT); Adami’s wife works at Merck; Kelly owns (BP) puts; Kelly owns (FCX) puts; Kelly owns (GLD); Kelly owns (GDXJ); Kelly is short (GS); Finerman and Finerman’s Firm owns (AAPL); Finerman’s Firm owns (AEO); Finermans’ Firm owns (ANF); Finerman’s Firm owns (BAC) stock and calls; Finerman and Finerman’s Firm own (BAC) preferred; Finerman and Finerman’s Firm owns (BBY); Finerman owns (BP) calls; Finerman and Finerman’s Firm owns (C); Finerman and Finerman’s Firm own (CVS); Finerman owns (GLW); Finerman & Finerman’s Firm owns (GOOG); Finerman & Finerman’s Firm owns (HPQ); Finerman & Finerman’s Firm owns (IBM); Finerman & Finerman’s Firm owns (JPM) stock & calls; Finerman’s firm owns (PM); Finerman’s Firm owns (RIG); Finerman’s Firm owns (TGT); Finerman’s Firm owns (WMT); Finerman’s Firm is short (IJR); Finerman’s Firm is short (IWM); Finerman’s Firm is short (MOY); Finerman’s Firm is short (SPY)

For Brian Kelly
Accounts managed by Kanundrum Capital own (AUY)
Accounts managed by Kanundrum Capital own (GFI)
Accounts managed by Kanundrum Capital is short (AMZN)
Accounts managed by Kanundrum Capital is short (RCL)
Accounts managed by Kanundrum Capital is short (XLY)
Accounts managed by Kanundrum Capital is short (AFL)
Accounts managed by Kanundrum Capital is short (CME)
Accounts managed by Kanundrum Capital is short (EWI)
Accounts managed by Kanundrum Capital is short (EWO)
Accounts managed by Kanundrum Capital is short (GS)
Accounts managed by Kanundrum Capital is short (HIG)
Accounts managed by Kanundrum Capital is short (XLF)
Accounts managed by Kanundrum Capital is short (XLI)
Accounts managed by Kanundrum Capital is short (FCX)
Accounts managed by Kanundrum Capital is short (XLB)
Accounts managed by Kanundrum Capital is short (XLK)
Accounts managed by Kanundrum Capital is short (CLF)
Accounts managed by Kanundrum Capital is short (JOYG)

Peter Boockvar
Boockvar owns Euros

David Rosenberg
***No Disclosures***

Ed Mills
***No Disclosures***

Nishu Sood
***No Disclosures***

Mike Khouw
***No Disclosures***

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