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Halftime: Apple's Production May Be Hurt By Japan Quake

Apple shares took a hit after Jefferies & Co.'s Peter Misek on Wednesday said the iPhone 5 and the next version of its operating, iOS 5, isn't likely to be released until fall. In turn, Misek cut estimates for Apple for this fiscal year ending in September and for fiscal year 2012, as well.

Apple will also face some supply chain disruptions because of the natural disasters in Japan, Misek said on Wednesday's "Fast Money Halftime Report." Most components have four to eight weeks of inventory and while some are single-sourrced to Japanese companies, most come from multiple companies in different areas. Korea will offset a lot of the disruptions in Japan, but there will be some issues with getting lithium phosphate for batteries and bismaleimide-triazine resin, which is used in semiconductors.

"We see at best a two to four week sort of hiccup here. Nothing more than that," Misek said. "We just think it takes some of the exceeding upside that Apple could have potentially guided to away."

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CALL TO THE FLOOR: SAKS

Steve Sadove, Saks chairman and CEO, shared his view on the retail space. Watch the video to see the full conversation.

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CALL THE CLOSE

At the conclusion of Wednesday's program, the "Fast Money" traders shared their thoughts on where they think the market could go and how they plan to play it.

Steve Cortes, founder of Veracruz, doens't think another round of quantitative easing is likely. He's a seller of commodities.

Trutina Financial's Patty Edwards likes the energy trade.

Dennis Gartman, a "Fast Money" contributor and publisher of "The Gartman Letter," said he wants to own gold in yen terms.

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Trader disclosure: On Mar. 30, 2011, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Steve Cortes is long (SDY), (EXY), (SO), (RIMM), U.S. Dollar vs. British Pound, U.S. Treasuries. Steve Cortes is short (F), (BAC), (UNP), (DBA), Wheat and Beans. Patty Edwards is Long (GLD), (SLV) and (PGM). Jon Najarian Owns (RSH), Is Short (RSH) Calls. Jon Najarian Owns (AKAM), Is Short (AKAM) Calls. Jon Najarian Owns (AA), Is Short (AA) Calls. Jon Najarian Owns (CBOE), Is Short (CBOE) Calls. Jon Najarian Owns (CME), Is Short (CME) Calls. Jon Najarian Owns (NYX), Is Short (NYX) Calls. Jon Najarian Owns (DANG), Is Short (DANG) Calls. Jon Najarian Owns (GNW), Is Short (GNW) Calls. Jon Najarian Owns (HK), Is Short (HK) Calls. Jon Najarian Owns (NTRI), Is Short (NTRI) Calls. Jon Najarian Owns (ONN), Is Short (ONN) Calls. Jon Najarian Owns (PCX), Is Short (PCX) Calls. Jon Najarian Owns (TER), Is Short (TER) Calls.

Comcast Is The Parent Company Of CNBC
Comcast Is The Parent Company Of NBCUniversal
GE Owns 49% Of NBCUniversal
GE Owns 49% Of CNBC

Dennis Gartman
Funds Managed By Dennis Gartman Own (MOS)
Funds Managed By Dennis Gartman Are Long Gold
Funds Managed By Dennis Gartman Are Long Swiss Franc
Funds Managed By Dennis Gartman Are Long Canadian Dollar
Funds Managed By Dennis Gartman Are Short Yen
Funds Managed By Dennis Gartman Are Short Sterling
Funds Managed By Dennis Gartman Are Long (SU)
Funds Managed By Dennis Gartman Are Long (PGH)
Funds Managed By Dennis Gartman Are Long (CHK)
Funds Managed By Dennis Gartman Are Long (SJT)
Funds Managed By Dennis Gartman Are Long (EPD)
Funds Managed By Dennis Gartman Are Long (SWC)
Funds Managed By Dennis Gartman Are Long (MCP)
Funds Managed By Dennis Gartman Are Long (CLF)
Funds Managed By Dennis Gartman Are Long (ANDE)
Funds Managed By Dennis Gartman Are Long (CHK)
Funds Managed By Dennis Gartman Are Short S&P Futures
Funds Managed By Dennis Gartman Are Short Canadian VIX ETFs

Patty Edwards
Edwards is Long (SYT) for Clients
Edwards is Long (POT) for Clients
Edwards is Long (AAPL) for Clients
Edwards is Long (BRK.a) for Clients
Edwards is Long (BRK.b) for Clients
Edwards is Long S&P 500 for Clients
Edwards is Long Nasdaq 100 for Clients
Edwards Owns (EXC) For Clients
Edwards Owns (MAT) For Clients
Edwards Owns (GLW) For Clients
Edwards Owns (QCOM) For Clients

PETER MISEK
Jefferies Is A Market Maker In (AAPL), (CELL), (CRNT), (DRWI), (SMSI), (SWIR), (PWAV), (NVTL), (VELT), (RIMM)
Jefferies & Co. Was Financial Advisor To Enfora On Its Sale To Novatel
Jefferies Was Bookrunner On Velti IPO

CNBC.com with wires.

Symbol
Price
 
Change
%Change
AAPL
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