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Apple’s Blowout Benefits These Stocks

Tuesday, 24 Apr 2012 | 6:45 PM ET

Again Apple wowed the crowds with blockbuster earnings released Tuesday after the bell.

The results were so impressive, shares of Apple surged higher in extended trade - by more than $40 to $600.

But if $600/share is a little rich for your wallet, the Fast pros say there are other ways to benefit from Apple's blowout.

Although Apple's earnings report is awash with all kinds of metrics, the Fast Money desks focussed on the fact that Apple sold 35.1 million iPhones – far more that Wall Street expected – and 11.8 million iPads.

Apple Surges After Earnings Beat
Dissecting the day's major business news, including Apple's upbeat earnings surprise, with the Fast Money traders and Brian White, analyst at Topeka Capital Markets.

“This is good for the whole Apple ecosystem, explains Dan Berenbaum, Semiconductor Analyst, MKM Partners in an interview on CNBC’s Fast Money.

On the news, Berenbaum suggested putting money to work in two chip makers.

“I’d focus on Qualcomm, which provides the 3G and 4G base band chips to iPhones and the wireless enabled iPad and Broadcom which provides other connectivity, Bluetooth, WiFi.”

“I’d look at Cirrus Logic,” adds trader Joe Terranova, referring to another Apple supplier.

“You can also put AT&T and Verizon on the radar, after these numbers,” adds trader Brian Kelly. “All these iPhone activations are increasing the data that is transmitted by these carriers.”

And if you have a taste for adventure Karen Finerman suggests looking at RIM – on the short side. “Apple is gaining market share from somewhere. You’ve got to wonder where those iPhone sales are coming from.”

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SLIDESHOW: Top Apple Related Stocks for 2012A block of Apple may cost a pretty penny, but that doesn't mean you can't trade the trend.

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Trader disclosure: On April 24, 2012 , the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Brian Kelly is long QQQ CALLS AND PUTS; Karen Finerman is long AAPL; Karen Finerman is short AAPL CALLS; Karen Finerman is long BAC; Karen Finerman is long WMT; Karen Finerman is long TGT; Karen Finerman is long RIMM; Karen Finerman is long HPQ; Karen Finerman is short SPY; Karen Finerman is short MDY; Karen Finerman is short IWM; Joe Terranova is long VRTS; Joe Terranova is long MCD; Joe Terranova is long NXPI; Joe Terranova is long JPM; Joe Terranova is long JOY; Joe Terranova is long HPQ; Joe Terranova is long LQD; Mike Murphy is long AAPL; Mike Murphy is long JPM; Mike Murphy is long INTC; Mike Murphy is long ANF; Mike Murphy is long SBUX; Mike Murphy is long FCX; Mike Murphy is long PHM; Mike Murphy is long MCD; Mike Murphy is long BRCM; Mike Murphy is long CAT

For Mike Khouw
Nothing to disclose

For Dan Berenbaum
Nothing to Disclose:
The Primary Analyst (including his/her household) does not have a financial interest in the securities of the subject company(ies), nor does MKM Partners LLC habitually deal as principal in transactions in the securities referred to herein (or other instruments related thereto), including positions and transactions contrary to any recommendations contained herein held by the research analyst/household. The Firm has not engaged in transactions with issuers identified in the report. MKM Partners LLC does not make a market in the subject company(ies). The subject company(ies) is(are) not currently, nor for the past 12 months was(were), a client(s) of the Firm. The research analyst does not serve as an officer, director or advisory board member of the company(ies) and receives no compensation from it(them).

For Karen Hotlhouse
I, Karen Holthouse, certify that (1) the views expressed in this report accurately reflect my personal views about all of the subject companies and securities and (2) no part of my compensation was, is or will be directly or indirectly related to the specific recommendations or views expressed in this report.

CNBC.com with wires.

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  • Finerman is president of Metropolitan Capital Advisors, Inc., a company she co-founded.

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