If you want a new iPhone 5, that means you'll have to be numble.
But what about if you own the stock, what does it mean, then?
Munster says that it's bullish providing that Apple can ramp up inventory to meet demand into December and the holiday shopping season. Only if that doesn’t happen, does Munster see cause for concern.
At the end of the day, he thinks the path of least resistance remains higher. "I see a lot of opportunity for Apple and this is a good time to own the stock."
Strategic investor Dennis Gartman, however, sees it a little differently. He doesn't like the recent price action. On a day when the Nasdaq was up almost 1%, Apple was trading in the red. “If you’re an Apple shareholder you’ve got to be very concerned about what’s happening here,” Gartman says.
Posted by CNBC's Lee Brodie
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Trader disclosure: On July 26, 2012, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Link is long (AAPL); Link is long (JPM); Link is long (WFC); Link is long (MCD); Weiss is short (AAPL) puts; Weiss is long (T); Weiss is long (VZ); Weiss is short (JCP); Weiss is long (QCOM); Weiss is short (AKS); Weiss is short (X)
For Kevin Landis
Firsthand Technology Fund owns shares of (FB)
For Hal Goldstein
Nuveen Asset Management owns shares of (AMZN)
Nuveen Asset Management owns shares of (AAPL)
For Chris Larsen
Piper Jaffray usually provides bids and offers for the securities of Sprint Nextel Corp. and will, from time to time, buy and sell Sprint Nextel Corp. securities on a principal basis.
Piper Jaffray usually provides bids and offers for the securities of AT&T, Inc. and will, from time to time, buy and sell AT&T, Inc. securities on a principal basis.
Piper Jaffray was making a market in the securities of Verizon Communications Inc. at the time this research report was published. Piper Jaffray will buy and sell Verizon Communications Inc. securities on a principal basis.
For Gene Munster
Piper Jaffray makes a market in the securities of the following companies, and will buy and sell the securities of AAPL
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