Fast Money

Monday - Friday, 5:00 - 6:00 PM ET
Fast Money

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


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

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 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

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 with wires.