To trader Brian Kelly, Apple's earnings doesn't matter. After all, the iPhone 4S is selling "like crazy," so even if Apple posts a poor number, the market will assume next quarter is going to be great. If Apple posts strong fourth-quarter results, the Shelter Harbor co-founder said the market will say next quarter is going to be even better. Either way, it's a positive.
Apple is likely to report strong iPhone 4S sales next quarter, but trader Stephen Weiss is concerned about the iPad. Weiss thinks the tablet device faces tough competition from Amazon.com's Kindle Fire, which at $199, sells at a $300 discount to the iPad. The Kindle Fire may only be WiFi ready, but Weiss noted that up to 70 percent of all iPads are only WiFi.
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Trader Disclosures for Oct. 18, 2011:
Weiss owns RIMM
Weiss owns KO
Weiss owns EUO
Ilczyszyn owns ZSL
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