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Bullish Apple? Best Risk Reward in the Eco-System: Adami

Pros were again talking about Apple and the Apple eco-system after the company’s latest developer’s conference hoping the even would generate upside.

Among the highlights:
-Apple showed off an ultra thin Macbook pro.
-The iOS 6 operating system will have greater integration with Facebook.
-Siri is coming to the iPad.

“I loved the new Macbook display,” says Jonathan Geller aka Boy Genius on CNBC’s Fast Money. “It’s Apple continuing to reinvent computers. There’s no competitor that can touch them.”

Usually, the pros say the best way to play Apple’s new developments is long Apple – but not this time.

Top tech analyst Colin Gillis says Apple is moving into a seasonally slow quarter, which will weigh on share price.

And he adds to buy now for December is premature. “So much is going to change in the landscape as Google, Microsoft and others go after mobile.” You’ve got to wait."

Instead trader Guy Adami says the way to play is long NVIDIA, a chip maker believed to be associated with the MacBook Pro.

“The 52-week low is $11.47, “ explains Adami. "Shoot against that level. On a risk reward basis, a long position sets up well.”

Want more trades?

Click here to go to Top Apple Related Stocks for 2012.

Posted by CNBC's Lee Brodie




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Trader disclosure: On June 11, 2012, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Tim Seymour is long AAPL; Tim Seymour is long INTC; Tim Seymour is long SBUX; Pete Najarian is long AAPL stock; Pete Najarian is long AAPL calls; Pete Najarian is long C; Pete Najarian is long WFC calls; Pete Najarian is long INTC; Pete Najarian is long SBUX; Pete Najarian is long FB; Pete Najarian is long SCCO; Pete Najarian is long BP; Pete Najarian is long DCTR calls; Pete Najarian is long OIH calls; 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; Mike Murphy is long INTC; Mike Murphy is long TGT; Mike Murphy is long PHM; Scott Nations is long C; Scott Nations is long BAC; Scott Nations is long JPM; Scott Nations is long SPY

For Brad Lamensdorf
Brad Lamensdorf’s Fund is short GT
Brad Lamensdorf’s Fund is short C
Brad Lamensdorf’s Fund is short BBY
Brad Lamensdorf’s Fund is short DB
Brad Lamensdorf’s Fund is short KMX
Brad Lamensdorf’s Fund is short IFF
Brad Lamensdorf’s Fund is short NXTM
Brad Lamensdorf’s Fund is short COL
Brad Lamensdorf’s Fund is short HBI
Brad Lamensdorf’s Fund is short MASI
Brad Lamensdorf’s Fund is short CTCT
Brad Lamensdorf’s Fund is short CLH
Brad Lamensdorf’s Fund is short ERIC
Brad Lamensdorf’s Fund is short TIF
Brad Lamensdorf’s Fund is short FLS
Brad Lamensdorf’s Fund is short FNSR
Brad Lamensdorf’s Fund is short ACOM
Brad Lamensdorf’s Fund is short VSAT
Brad Lamensdorf’s Fund is short APKT
Brad Lamensdorf’s Fund is short SYY
Brad Lamensdorf’s Fund is short SPR
Brad Lamensdorf’s Fund is short WSM
Brad Lamensdorf’s Fund is short NFLX
Brad Lamensdorf’s Fund is short GMCR
Brad Lamensdorf’s Fund is short OPN
Brad Lamensdorf’s Fund is short RAX
Brad Lamensdorf’s Fund is short PHM

For Amelia Bourdeau
Nothing to disclose

For Collin Gillis
Nothing to Disclose

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