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After Another 52-Week High, Can Apple Just Keep Climbing?

On Monday the Fast gang took a long hard look at Apple , after the stock made a new all time high and Goldman issued a high profile upgrade.

Influential Goldman analyst Bill Shoppe raised his price target to $550 from $520 suggesting that “several key catalysts,” including increased iPhone sales, should help the stock in 2012.

Meanwhile Apple touched another new all-time high after rivals introduced something PC World called ‘rip-offs’ of Apple’s MacBook Air at the Consumer Electronics Showor CES. Investors took the new devices as a sign that Apple remained the gadget maker to beat. (Apple does not participate in the show.)

How should you trade Apple now?

Trader Pete Najarian is bullish. He says numbers continue to be impressive and he expects the company to ‘fire on all cylinders’ for quite some time to come.

Trader Brian Kelly agrees though at current levels he suggests waiting for a pullback. “I’m a buyer but a little lower," he says, "the stock feels a little frothy.”

Trader Josh Brown says “stick with it if you’re long but, at these levels, I wouldn’t pile in for a new buy, either.”

And if you’re a nimble pro who’s thinking about a short position the Fast traders have some advice – don’t do it. They all feel Apple has so much momentum that to go short is to do so at your own peril.





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Trader disclosure: On Jan 9, 2011, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Najarian is long AAPL stock and calls; Najarian is long C; Najarian is long JPM calls; Najarian is long WFC calls; Najarian is long MSFT; Najarian is long INTC; Najarian is long YHOO; Najarian is long BMY calls

For Whitney Tilson
Tilson is long NFLX
Tilson is short CRM

For Josh Brown
Fusion Analytics is long AAPL
Fusion Analytics is long COP
Fusion Analytics is long JPM
Fusion Analytics is long LULU

For Brian Kelly
Shelter Harbor Capital is long
Shelter Harbor Capital is long TSM
Shelter Harbor Capital is long KRE
Shelter Harbor Capital is long IWM
Shelter Harbor Capital is long XHB
Shelter Harbor Capital is long GLD
Shelter Harbor Capital is long SLV
Shelter Harbor Capital is long short
Shelter Harbor Capital is short Dax
Shelter Harbor Capital is short Eurostoxx
Shelter Harbor Capital is short CS
Shelter Harbor Capital is short UBS

For Shaw Wu
Sterne Agee makes a market in AAPL shares

For Jeff Kilburg
Kilburg is long Long 10 yr
Kilburg is long 30 yr
Kilburg is long TLT

For Abigail Doolittle
* No disclosures

For Mark Mahaney
Gregory Hertz, CFA, CPA, Associate, holds a long position in the securities of AOL, Inc.
Patrick Feeley, CPA, CFA, Associate, holds a long position in the securities of WebMD Corp.
William Reinhardt, CFA, Associate, holds a long position in the securities of Google Inc.
Steven J Fullerton, Associate, holds a long position in the securities of Google Inc.
Neil A Doshi, Associate, holds a long position in the securities of Google Inc.
Rohit Thapliyal, Associate, holds a derivative position in the securities of Amazon.com Inc.
Citigroup Global Markets Inc. or its affiliates beneficially owns 1% or more of any class of common equity securities of Akamai Technologies Inc, Ancestry.com, eBay Inc, Netflix Inc, Yahoo! Inc. This position reflects information available as of the prior business day.
Within the past 12 months, Citigroup Global Markets Inc. or its affiliates has acted as manager or co-manager of an offering of securities of Ancestry.com, Google Inc, Groupon, Inc., WebMD Corp, Active Network Inc, Bankrate Inc.
Citigroup Global Markets Inc. or its affiliates has received compensation for investment banking services provided within the past 12 months from Orbitz Worldwide Inc, eBay Inc, Google Inc, Groupon, Inc., WebMD Corp, Active Network Inc, Bankrate Inc.
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 Yahoo! Inc.
Citigroup Global Markets Inc. or an affiliate received compensation for products and services other than investment banking services from AOL, Inc., Monster Worldwide Inc, Orbitz Worldwide Inc, Akamai Technologies Inc, Amazon.com Inc, eBay Inc, Expedia Inc, Google Inc, Groupon, Inc., IAC/InterActiveCorp, Priceline.Com Inc, Tree.com, Vistaprint NV, WebMD Corp, Yahoo! Inc, Active Network Inc, Bankrate Inc 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): Bankrate Inc, Ancestry.com, Active Network Inc, Groupon, Inc., Orbitz Worldwide Inc, eBay Inc, Google Inc, WebMD Corp, Yahoo! Inc.
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: AOL, Inc., Monster Worldwide Inc, Orbitz Worldwide Inc, Akamai Technologies Inc, Amazon.com Inc, eBay Inc, Expedia Inc, Google Inc, Groupon, Inc., IAC/InterActiveCorp, Priceline.Com Inc, Tree.com, Vistaprint NV, WebMD Corp, Yahoo! Inc, Active Network Inc.
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: AOL, Inc., Monster Worldwide Inc, Orbitz Worldwide Inc, Amazon.com Inc, eBay Inc, Expedia Inc, Google Inc, Groupon, Inc., IAC/InterActiveCorp, Priceline.Com Inc, Vistaprint NV, WebMD Corp, Yahoo! Inc, Bankrate Inc.
Citigroup Global Markets Inc. or an affiliate received compensation in the past 12 months from Bankrate Inc, Ancestry.com, Active Network Inc, Groupon, Inc..
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.
The Firm is a market maker in the publicly traded equity securities of Monster Worldwide Inc, Akamai Technologies Inc, Amazon.com Inc, Ancestry.com, Blue Nile Inc, eBay Inc, Google Inc, Groupon, Inc., HomeAway, Inc., IAC/InterActiveCorp, Netflix Inc, OpenTable, Inc, Priceline.Com Inc, ReachLocal Inc, Tree.com, ValueClick Inc, Vistaprint NV, WebMD Corp, Yahoo! Inc, Active Network Inc, Bankrate Inc.




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AAPL
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