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Don’t Buy a TV, Apple Is Working on Something Big: Munster

Wednesday, 30 May 2012 | 2:07 PM ET

Apple CEO Tim Cook didn’t come out and say it, but top Apple analyst Gene Munster thinks his message was loud and clear.

“If you’re in the market for a new TV, hold off. Apple has a new product coming and it’s going to be hot,” he says.

That's essentially Munster’s interpretation of commentary made by CEO Tim Cook who actually said technology for televisions was of “intense interest” to him.

Apple TV: Coming Soon?
Apple's CEO Tim Cook updated the crowd at the "All Things Digital Conference" on the sales of Apple's current TV product. Gene Munster, Piper Jaffray analyst, discusses his take on the product's release date and Apple's performance.

Munster and much of the blogosphere have been poring over Cook’s comments, since he made them at the All Things Digital Conference on Tuesday.

“The message that I think Tim Cook intended to send was don’t buy a TV, we’re working on something,” Munster says.

Munster has done other proprietary research and he’s all but certain a new Apple TV is coming — it’s just a matter of when.

“They could announce a new Apple TV as soon as December,” he says.

In the past, Munster has said the new Apple TV which is sometimes called an iTV will be “the biggest thing in consumer electronics since the smartphone came up.”

If you agree with Munster, the Fast traders suggest trading the thesis either long Apple or “look at Cirrus Logic ,” says Joe Terranova. "They get 50 percent of their revenue from Apple.”

And if you’re looking for another Apple related trade, Terranova also likes NXPI as a play on the iPhone becoming a mobile wallet.

Looking for more trades? Check out the following:
> Top Apple Related Stocks for 2012

—Posted by CNBC's Lee Brodie

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Trader disclosure: On May 30, 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 WFC; Brian Kelly is long INTC; Brian Kelly is long XHB; Brian Kelly is long PWR; Brian Kelly is long MSFT; Brian Kelly is long VZ; Brian Kelly is long T; Brian Kelly is long ADM; Brian Kelly is long XLU; Brian Kelly is long AAPL; Brian Kelly is short EUROSTOXX 50; Brian Kelly is short FTSE 100; Brian Kelly is short CAC40; Joe Terranova is long VRTS; Joe Terranova is long MCD; Joe Terranova is long PNC; Joe Terranova is long SBUX; Joe Terranova is long SJM; Joe Terranova is long UPL; Joe Terranova is long WFM; Joe Terranova is long AAPL; Joe Terranova is long NXPI; Joe Terranova is long LPX; Joe Terranova is long SNDK; Joe Terranova is long CNX; Joe Terranova is long LQD; Joe Terranova is short JUNE MINI S&P FUTURES; Stephen Weiss is long UVP; Stephen Weiss is long EUO; Stephen Weiss is long T; Stephen Weiss is long VZ; Stephen Weiss is short X; Stephen Weiss is short JCP; Stephen Weiss is short MT; Stephen Weiss is short CMI; Guy Adami is long C; Guy Adami is long GS; Guy Adami is long INTC; Guy Adami is long AGU; Guy Adami is long MSFT; Guy Adami is long NUE; Guy Adami is long BTU

For Jeff Kilburg
Jeff Kilburg is long US10Y

For Dennis Gartman
Gartman is long JPM
Gartman is long JNJ
Gartman is long PG
Gartman is long VZ

For Machael Genovese
The Primary Analyst certifies that the views expressed in this research report about securities and issuers accurately reflect his/her personal views. The Primary Analyst also certifies that there has not been, is not, and will not be direct or indirect compensation from MKM Partners LLC or the subject company(ies) related to the specific recommendations or views in this report.

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 Gene Munster
Piper Jaffray is a market maker in AAPL


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