The traders were talking tech Monday with Apple, Netflix and Amazon all landing front and center.
NETFLIX ‘LONG TACTICAL IDEA’ AT MORGAN STANLEY
With shares down a little less than 50% over the past month is Netflix finally oversold? Morgan Stanley says yes, and it’s a buying opportunity.
Evidently the folks at Morgan Stanely aren't the only ones who think the stock is cheap.
”JAT Capital has taken more than a 7% stake in Netflix, “ says Karen Finerman. “That’s interesting.”
”I think it goes lower before it goes higher,” says Guy Adami.
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AMAZON UPGRADE AT STIFEL
Traders are also closely watching Amazon after Stifel Nicolaus upgraded the company saying it’s ‘less exposed to potential consumer slowing.’
How should you trade it?
”I’m a great fan of the company but not a fan of the multiple,” says Karen Finerman.
”Amazon is in the game and expanding,” adds Joe Terranova. But he also says if the S&P goes lower Amazon will likely go with it.
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APPLE IPHONE EXPECTATIONS
All eyes are bound to be on Apple this week as they get set to announce the launch of the new iPhone 5.
How should you game it?
Hear more from Ticonderoga Securities Analyst Brian White, who has a $666 price target on the stock. Watch the video now!
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Trader disclosure: On Oct 3, 2011, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Seymour owns (AAPL); Seymour owns (BAC); Adami Owns (AGU); Adami Owns (C); Adami Owns (GS); Adami Owns (INTC); Adami Owns (MSFT); Adami Owns (NUE); Adami Owns (BTU); Terranova is long LQD; Terranova is long MUB; Terranova is long VRTS; Terranova is long OXY; Terranova is long HOS; Terranova is long OIH; Terranova is long AXP; Terranova is long EMC; Terranova is long WFC; Terranova is long AAPL; Terranova is long IBM;
Finerman’s firm is short AAPL calls; Finerman owns AAPL; Finerman owns BAC; Finerman owns GOOG; Finerman’s firm owns JPM leaps; Finerman owns JPM; Finerman owns IWM; Finerman owns MDY; Finerman owns SPY
For Joe Terranova|
Terranova is Chief Market Strategist of Virtus Investment Partners, LTD
Virtus Investment Partners Owns More Than 1% Of (ABAX)
Virtus Investment Partners Owns More Than 1% Of Building Materials Holdings
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Virtus Investment Partners Owns More Than 1% Of (CSVI)
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Virtus Investment Partners Owns More Than 1% Of (RLI)
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Virtus Investment Partners Owns More Than 1% Of (XLF)
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Virtus Investment Partners Owns More Than 1% Of (XLK)
Virtus Investment Partners Owns More Than 1% Of (XLU)
Virtus Investment Partners Owns More Than 1% Of (SUBK)
Virtus Investment Partners Owns More Than 1% Of (WDFC)
Virtus Investment Partners Owns More Than 1% Of (YDNT)
Virtus Investment Partners Owns More Than 1% Of Domino's Pizza UK & IRL PLC
Robert Mcadoo
No Disclosures
CNBC.com with wires.