Gene Munster: Samsung, Others Should Worry about Kindle Fire

Amazon revealed its not-so-secret tablet contender on Wednesday. But is the aggressively priced Kindle Fire anything Apple should be worried about?

Widely followed Piper Jaffray analyst Gene Munster says “the ones that are in trouble are Samsung, Motorola and BlackBerry. It really isn’t Apple.”

He goes on to say “I think Apple will be just fine despite the impressive low price point of the Amazon Kindle Fire at $199.”

In fact Munster doesn’t think Amazon was ever looking to take on Apple. What does he think Jeff Bezos is trying to do?

Check out our entire conversation with Munster. Watch the video now!

______________________________________________________
Got something to to say? Send us an e-mail at [e-mail] and your comment might be posted on the Rapid Recap. If you'd prefer to make a comment, but not have it published on our Web site, send those e-mails to [e-mail].

Trader disclosure: On Sep 28, 2011, 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); Adami Owns (C); Adami Owns (GS); Adami Owns (INTC); Adami Owns (MSFT); Adami Owns (NUE); Adami Owns (BTU); Terranova is long VRTS; Terranova is long OXY; Terranova is long HOS; Terranova is long OIH; Terranova is long CVI; Terranova is long AXP; Terranova is long EMC; Terranova is long F; Terranova is long AMZN; Terranova is long WFC; Terranova is long AAPL; Terranova is long IBM; Terranova is long Silver puts; Terranova is long PCP; Terranova is long MS; Terranova is long GS; Terranova is long WFM; Grasso owns AKS; Grasso owns AMD; Grasso owns ASTM; Grasso owns BA; Grasso owns BAC; Grasso owns C; Grasso owns D; Grasso owns JPM; Grasso owns LIT; Grasso owns LPX; Grasso owns MAR; Grasso owns MHY; Grasso owns NDAQ; Grasso owns PFE; Grasso owns PRST; Grasso owns S; Grasso owns XHB; Grasso owns XLB; Grasso owns XLI

For Steve Grasso
Stuart Frankel & Co and it’s partners own CSCO
Stuart Frankel & Co and it’s partners own CUBA
Stuart Frankel & Co and it’s partners own FDX
Stuart Frankel & Co and it’s partners own GERN
Stuart Frankel & Co and it’s partners own HPQ
Stuart Frankel & Co and it’s partners own HSPO
Stuart Frankel & Co and it’s partners own JPM
Stuart Frankel & Co and it’s partners own MET
Stuart Frankel & Co and it’s partners own MSFT
Stuart Frankel & Co and it’s partners own MU
Stuart Frankel & Co and it’s partners own NYX
Stuart Frankel & Co and it’s partners own PFE
Stuart Frankel & Co and it’s partners own PRST
Stuart Frankel & Co and it’s partners own RHT
Stuart Frankel & Co and it’s partners own SDS
Stuart Frankel & Co and it’s partners own UAL
Stuart Frankel & Co and it’s partners own XRX
Stuart Frankel & Co and it’s partners are short QQQQ

For Kevin Kerr
Kerr is long XLB ETF Options
Kerr is long GLD ETF Options

For Jim Iuorio
Iuorio is long TBT
Iuorio is long TBT (calls)

For Larry Mcdonald
No disclosures

For Anthony Scaramucci
No disclosures

For Gene Munster
No disclosures

CNBC.com with wires.