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Has Apple Stock Lost Its Mojo?

Apple shares broke below the 50-day moving average on Thursday, leading the "Fast Money" traders to debate whether Apple stock has lost its mojo.

Collin Gillis, an analyst at BGC Financial, noted three concerns surround Apple , including 1) Apple's margins could be under pressure, 2) Amazon.com's Kindle Fire tablet is hurting iPad sales, and 3) There has been too much optimism on Apple's future prospects. In turn, Gillis said Apple's stock has stalled.

“It’s still a good name, but you’re not going to see these $500 price targets or $600 price targets," Gillis said, adding the momentum has come out of it. "It’s not going to break down to $310 or $330 any time soon, but you can play the fact that it’s stalled by using derivatives.”

Trader Steve Cortes is betting the stock will soon break down, though. The Veracruz founder has long been negative on the stock and is currently shorting it. Cortes noted the stock has been unable to push past the $410 level, a key technical level. Should Apple's stock close below $380 a share, he'll short the name even more.

Anthony Scaramucci, managing partner of SkyBridge Capital, takes a different view. At current levels, Scaramucci thinks Apple is a good long-term buy. Investors should only buy the stock if they plan on holding it for 6-months or a year, though.

Meanwhile, Stuart Frankel's Steve Grasso observed a change in how investors view Apple's stock following the passing of founder and former CEO Steve Jobs. His clients, for example, don't seem to be as enthused about the stock any more.

“They’re not negative," Grasso said, "But they’re not as bullish in the face of everything as they used to be.”

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Trader disclosure: On November 10, 2011, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Scaramucci is long AAPL; Scaramucci is long BAC; Scaramucci is long IBM; Cortes is long Treasuries; Cortes is long SO; Cortes is long K; Cortes is long DNKN; Cortes is short AAPL; Cortes is short DB; Cortes is short STD; Cortes is short BAC; Cortes is short GOLD; Edwards is long XLK; Grasso owns AA; Grasso owns AKS; Grasso owns ASTM; Grasso owns BA; Grasso owns BAC; Grasso owns D; Grasso owns KEG; Grasso owns LIT; Grasso owns MHY; Grasso owns PFE; Grasso owns PRST; Grasso owns S; Grasso owns XLU; Grasso is invested in a retail space hedge fund

For Patty Edwards
Trutina Financial is long ANDE
Trutina Financial is long AAPL
Trutina Financial is long GLD
Trutina Financial is long INTC
Trutina Financial is long TGT
Trutina Financial is long DIS
Trutina Financial is long SWN

For Steve Grasso
Stuart Frankel & Co. and its partners own CSCO
Stuart Frankel & Co. and its partners own CUBA
Stuart Frankel & Co. and its partners own GERN
Stuart Frankel & Co. and its partners own HPQ
Stuart Frankel & Co. and its partners own HSP
Stuart Frankel & Co. and its partners own JPM
Stuart Frankel & Co. and its partners own MET
Stuart Frankel & Co. and its partners own MU
Stuart Frankel & Co. and its partners own UAL

For Mark Astrachan
We, Mark S. Astrachan and Mark Swartzberg, certify that the views expressed in this research report accurately reflect our personal views about the subject securities or issuers; and We, Mark S. Astrachan and Mark Swartzberg, certify that no part of our compensation was, is, or will be directly or indirectly related to the specific recommendation or views contained in this research report. For our European Conflicts Management Policy go to the research page at
www.stifel.com.
Stifel, Nicolaus & Company, Inc. expects to receive or intends to seek compensation for investment banking services from Green Mountain Coffee Roasters Inc. in the next 3 months. Stifel, Nicolaus & Company, Inc. makes a market in the securities of Green Mountain Coffee Roasters Inc. Stifel, Nicolaus & Company, Inc.'s research analysts receive compensation that is based upon (among other factors) Stifel Nicolaus' overall investment banking revenues.
Stifel, Nicolaus & Company, Inc. makes a market in the securities of Green Mountain Coffee Roasters Inc.. Stifel, Nicolaus & Company, Inc. expects to receive or intends to seek compensation for investment banking services from Green Mountain Coffee Roasters Inc. in the next 3 months.
For Brian Modoff
Within the past year, Deutsche Bank and/or its affiliate(s) has managed or co-managed a public or private offering for this company, for which it received fees. Deutsche Bank and/or its affiliate(s) makes a market in securities issued by this company. Deutsche Bank and/or its affiliate(s) expects to receive, or intends to seek, compensation for investment banking services from this company in the next three months. 14. Deutsche Bank and/or its affiliate(s) has received non-investment banking related compensation from this company within the past year. This company has been a client of Deutsche Bank Securities Inc. within the past year, during which time it received noninvestment banking securities-related services.

For Jason Bazinet
Citigroup Global Markets Inc. or its affiliates has received compensation for investment banking services provided within the past 12 months from Walt Disney Co.
Citigroup Global Markets Inc. or its affiliates expects to receive or intends to seek, within the next three months, compensation for investment banking services from Walt Disney Co.
Citigroup Global Markets Inc. or an affiliate received compensation for products and services other than investment banking services from Walt Disney Co in the past 12 months.
Citigroup Global Markets Inc. currently has, or had within the past 12 months, the following as investment banking client(s): Walt Disney Co.
Citigroup Global Markets Inc. currently has, or had within the past 12 months, the following as clients, and the services provided were non-investment-banking, securities-related: Walt Disney Co.
Citigroup Global Markets Inc. currently has, or had within the past 12 months, the following as clients, and the services provided were non-investment-banking, non-securities-related: Walt Disney Co.
Analysts' compensation is determined based upon activities and services intended to benefit the investor clients of Citigroup Global Markets Inc. and its affiliates ("the Firm"). Like all Firm employees, analysts receive compensation that is impacted by overall firm profitability which includes investment banking revenues.

For Marc Chandler
No disclosures

For Rehan Rashid
FBR acts as a market maker or liquidity provider for the company's securities: CHK.
Information about the Research Analyst Responsible for this report:
The primary analyst(s) covering the issuer(s), Rehan Rashid, certifies (certify) that the views expressed herein accurately reflect the analyst's personal views as to the subject securities and issuers and further certifies that no part of such analyst's compensation
was, is, or will be, directly or indirectly, related to the specific recommendations or views expressed by the analyst in the report.
The analyst(s) responsible for this research report has received and is eligible to receive compensation, including bonus
compensation, based on FBR’s overall operating revenues, including revenues generated by its investment banking activities.

For Colin Gillis
The analyst primarily responsible for this research report, and whose name appears on the front cover, certifies that: (i) all of the views expressed in this research report accurately reflects his or her personal views about any and all of the subject securities or issuers featured in this report; and (ii) no part of any of the research analyst's compensation was, is, or will be, directly or indirectly related to the specific recommendations or views expressed by the research analyst in this report.
Investment banking (next 3 months): BGC Financial LP and/or its affiliates, expect to receive, or intend to seek, compensation for investment banking services within the next three months from all of the companies referenced within this report. Lead or Co-manager: BGC Financial LP and/or its affiliates, has not acted as lead or co-manager in a public offering of equity and/or debt securities for Apple within the last 12 months. BGC Financial LP and/or its affiliates has not received compensation for investment banking services in the last 12 months from Apple.

CNBC.com with wires.

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AMZN
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AAPL
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