Amid next week’s earnings deluge, which tech names will the Fast Money traders be watching closely -- Apple , Microsoft , and Yahoo .
First and foremost, next week all eyes will be on Apple. The company reports earnings on Monday after the bell. Apple is expected to report earnings of $2.06 a share on revenue of $12.05 billion, according to Thomson Reuters I/B/E/S, with a gross margin of 35.7 percent.
But the traders are really waiting for Wednesday, when Apple could unveil a new tablet computer that investors hope will be as huge a phenomenon as its iconic iPod and iPhone.
The week could provide a pair of long-term catalysts for Apple's stock. But the company's shares often sell off right after major launches after months of rumor fuel big expectations.
What’s the trade?
Long term I love Apple, says Joe Terranova. But the 100-day moving average is $193. If it breaks below that level I'd lighten up in the short term.
I don't see tremendous upside in this stock, says Tim Seymour. If the market goes down Apple has a lot of room to fall.
If you think the market will stop going down then load the boat, says Guy Adami. But if you're like me and think there's more downside, Apple will probably go down faster.
On Thursday Microsoft results could move the market. The software giant is expected to post earnings of 58 cents a share for the period ended in December, and $17.8 billion in revenue, according to analysts polled by Thomson Reuters.
The traders will be particularly keen to hear what Microsoft has to say about Windows 7, which they see as a proxy for the health of the corporate PC upgrade cycle. They also want to hear how Bing is doing versus Yahoo! and Google.
What's the trade?
I think Microsoft numbers will be outstanding, says Pete Najarian.
Yahoo! reports Tuesday after the bell. According to Thomson Reuters, analysts on average are expecting earnings of 40 cents a share on revenue of $2.28 billion.
The traders will be looking to see if Yahoo gained or lost its grip on the Internet search market. According to data from comScore Inc., Yahoo's share of the U.S. market slipped to 17.3% in December, while both Google and Microsoft gained share during the period.
They also want to see what Yahoo! has to say about online advertising.
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Trader disclosure: On January 22nd, 2010, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Adami Owns (AGU), (C), (GS), (INTC), (MSFT), (NUE), (BTU); Najarian Owns (CLF) Call Spread; Najarian Owns (GS) Call Spread;; Najarian Owns (INTC) Calls; Najarian Owns (MS), Is Short (MS) Calls; Najarian Owns (XLF) Calls; Najarian Owns (TEVA); Seymour Owns (AAPL); Seymour Owns (BAC); Seymour Owns (FXI); Seymour Owns (INTC); Seymour Owns (INFY); Seymour Owns (SBUX); Terranova Is Short (CMA), (ESS), (CAL); Terranova Owns (BAC), (JPM), (XOM), (FTO), (FCX), (EMC), (AAPL), (DELL), (MSFT), (QCOM); Terranova Owns March Copper Futures
GE Is The Parent Company Of CNBC
For Tim Seymour
Seygem Asset Management Is Short (PBR)
For Joe Terranova
Terranova Works For (VRTS)
Terranova Is Chief Market Strategist Of Virtus Investment Partners, Ltd.
Virtus Investment Partners Owns More Than 1% Of (CLB)
Virtus Investment Partners Owns More Than 1% Of (DLR)
Virtus Investment Partners Owns More Than 1% Of (EXR)
Virtus Investment Partners Owns More Than 1% Of (IGE)
Virtus Investment Partners Owns More Than 1% Of (XLY)
Virtus Investment Partners Owns More Than 1% Of (DBV)
Virtus Investment Partners Owns More Than 1% Of (UA)
Virtus Investment Partners Owns More Than 1% Of (XLB)
Virtus Investment Partners Owns More Than 1% Of (XLI)
Virtus Investment Partners Owns More Than 1% Of (SKT)
For Brian Stutland
Stutland's Firm Is A Market Maker In VIX Options & Futures, Is Short Volatility
Stutland's Firm Is A Market Maker In S&P 500 Options, Is Long Volatility|
Stutland Owns (EMC)
Stutland Is Short (SPY)
For Brian Kelly
Kanundrum Capital Owns (BAC)
Kanundrum Capital Owns (JPM)
Kanundrum Capital Owns (C)
Kanundrum Capital Owns (ACH)
Kanundrum Capital Owns (GE)
Kanundrum Capital Owns (CNI)
Kanundrum Capital Owns (EWA)
Kanundrum Capital Owns (EWC)
Kanundrum Capital Is Short U.S. Dollars Against Short Euro, Yen, Swiss Francs
Kanundrum Capital Is Long British Pounds Against Short Dollars
Kanundrum Capital Is Long April Gold
Kanundrum Capital Is Short (GS)
Kanundrum Capital Is Short (EWY)
For Peter Schiff
Schiff Owns Gold
Schff Is Short U.S. Dollar
Other Relevant Disclosures:
Seymour Owned (GOOG) On 1/21/10
Terranova Was Short Feb. Crude Oil Futures On 1/11/10
Najarian Owned (HUM) Call Spread On 1/14/10, 1/15/10
Najarian Owned (CLF) On 1/5/10
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