Up 70 percent for the year, Apple stock became vulnerable to profit-taking from institutional investors as year-end approaches, Kass added.
(Read More: Google Better Than Apple for This Reason: Verrone)
“They have massive delivery issues considering the growing size of the company,” he said.
Kass appeared to urge skepticism.
(Read More: Blodget: iPad Mini Could Hurt Apple Margins)
“We have to watch to see if this first mover advantage is protected,” he said. “Apple’s shares could turn around in a nanosecond, but there are for the first time, there are chinks or bruises in the Apple story.”
Mike Murphy of Rosecliff Capital said that the pullback was a buying opportunity.
“Absolutely. I don’t know why you wouldn’t,” he said. “There’s nothing fundamentally that has changed.”
Brian White of Topeka Capital Markets also remained an Apple bull.
“I look at this pull-back as a gift ahead of the holidays,” he said.
Trader disclosure: On Oct. 9, 2012, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s “Fast Money” were owned by the “Fast Money” traders: Michael Murphy is long AAPL; Michael Murphy is long WFC; Michael Murphy is long TGT; Murphy is long TRN; Joe Terranova is long VRTS; Joe Terranova is long WFM; Joe Terranova is long SBUX; Joe Terranova is long NFLX; Joe Terranova is long SWN; Joe Terranova is long TRV; Joe Terranova is long VZ; Joe Terranova is long VLO; Joe Terranova is long CCSTR; Joe Terranova is long CHKP; Joe Terranova is long GLW; Joe Terranova is long EMC; Joe Terranova is long NXPI; Gemma Godfrey is funds long AAPL; Gemma Godfrey is funds long JPM; Gemma Godfrey is funds long MSFT; Gemma Godfrey is funds long AMZN; Gemma Godfrey is funds long GOOG.
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