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At Record High, How Should You Trade Apple?

Apple entered the record books Monday, becoming the most valuable stock to have ever traded.

With Monday’s gain, Apple eclipsed Microsoft’s peak market cap of $618.9 billion, a level that Microsoft hit over 12 1/2 years ago, on Dec. 30, 1999.

Little seems to be slowing down Apple’s stock these days. Shares have been on the rise over the past three months in high anticipation of new iPhone and iPad models that have been predicted to hit stores during the second half of this year.

Even a disappointing earnings report late last month did little to spook investors as they remained focused on the widely expected, but not yet formally announced, iPhone launch next month.

The pros often say stick with what’s working – or buy high and sell higher – is that the trade here?

According to top trader Stephanie Link – the short answer is no. “I don’t see any reason to chase it here.”

Although Link likes Apple she sees better places to put money to work. And she reveals the tech stocks she likes more at current levels in the video above.

Posted by CNBC's Lee Brodie

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Trader disclosure: On August 20, 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 Grasso is long S; Steve Grasso is long PFE; Steve Grasso is long XLU; Steve Grasso is long MO; Steve Grasso is long MHY ; Steve Grasso is long LNG; Steve Grasso is long FRO; Steve Grasso is long D; Steve Grasso is long BA; Steve Grasso is long ASTM; Steve Cortes is long FB; Steve Cortes is long LQD; Steve Cortes is long PPH; Steve Cortes is long XLU; Steve Cortes is short MEX PESO; Steve Cortes is short XME; Steve Cortes is short IWM; Steve Cortes is short COH; Jon Najarian is long AAPL CALL SPREADS; Jon Najarian is long JPM CALL SPREADS; Jon Najarian is long GDX CALL SPREADS; Jon Najarian is long GLD CALL SPREADS; Jon Najarian is long SBUX CALL SPREADS; Jon Najarian is long FB CALL SPREADS; Jon Najarian is long GLUU; Jon Najarian is long CBOE; Jon Najarian is long CME; Jon Najarian is long S with wires.