GO
Loading...

Apple: Street Pricing In Catalyst That's Not Coming?

Thursday, 16 Aug 2012 | 5:50 PM ET

In a lower-than-average volume day, Apple quietly crept higher, posting its best closing price ever.

Apple has been a Wall Street darling with the faithful convinced the stock will trade $1000 or higher.

However, late developments may call Apple’s recent march higher into question.

Apple Quietly Posts All-Time Closing High
In a lower-than-average volume day, Apple quietly crept higher, posting its best closing price ever. Tim Seymour and Stephen Weiss debate whether it is justified.

The Wall Street Journal reported that Apple could be trying to enter the cable box market as part of a new iteration of its Apple TV.

Although that may sound bullish on the surface it may actually be quite bearish.

Until now rumors around the market had suggested that the new Apple TV – nicknamed the iTV - would transform the living room and create a revolutionary new media experience.

Those expectations were in part triggered by the Steve Job’s biography penned by Walter Isaacson that said Jobs “very much wanted to do for television sets what he had done for computers, music players, and phones: make them simple and elegant.”

The Journal story calls that entire thesis into question. “That was Steve Jobs' dream and vision but it will never happen,” says Porter Bibb of Media Tech Capital Partners on Halftime.

And if that doesn’t happen, a major catalyst may be priced into the stock that just doesn’t exist.

Posted by CNBC's Lee Brodie

Read More from Fast Money:

> Top Apple Related Stocks for 2012





______________________________________________________
Got something to to say? Send us an e-mail at fastmoney-web@cnbc.com and your comment might be posted on the Rapid Recap. If you'd prefer to make a comment, but not have it published on our Web site, send those e-mails to fastmoney@cnbc.com.


Trader disclosure: On August 16, 2012, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Steve Weiss is long VZ; Steve Weiss is long T; Steve Weiss is long VOD; Steve Weiss is long TCK; Steve Weiss is long HK; Steve Weiss is long QCOM; Steve Weiss is long MSFT; Steve Weiss is long AAPL; Steve Weiss is long WLT; Karen Finerman is long AAPL; Karen Finerman is long BAC; Karen Finerman is long JPM; Karen Finerman is long WMT; Karen Finerman is long TGT; Karen Finerman is long MSFT; Karen Finerman is short SPY; Karen Finerman is short IWM; Karen Finerman is short MDY; Tim Seymour is long INTC; Tim Seymour is long CSCO; Tim Seymour is long SBUX; Joe Terranova is long VRTS; Joe Terranova is long MCD; Joe Terranova is long SBUX; Joe Terranova is long AAPL; Joe Terranova is long WFM; Joe Terranova is long CSTR; Joe Terranova is long CHKP; Joe Terranova is long EMC; Joe Terranova is long NXPI


CNBC.com with wires.

Contact Fast Money

  • Showtimes

    Halftime Report - Weekdays 12p ET
    Fast Money - Weekdays 5p ET
  • Melissa Lee is the host of CNBC's “Fast Money” and “Options Action.”

  • Scott Wapner is host of the "Fast Money Halftime Report," which airs weekdays from 12 p.m. to 1 p.m. ET.

  • Guy Adami is a contributor on CNBC's "Fast Money." He also is managing director of stockMONSTER.com.

  • Najarian, the "Pit Boss," is cofounder of optionMONSTER.com, a news site for options traders.

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

  • Founder of EmergingMoney.com

  • Chief Market Strategist for Virtus Investment Partners & CNBC Contributor

Halftime Report