Expectations are low for Apple heading into its event next month, making the tech giant's stock appealing at its current price, CNBC "Fast Money" trader Tim Seymour said.
Apple on Thursday confirmed it will hold a Sept. 9 function, in which the company could reportedly unveil its next generation iPhone and other developments. With its shares down about 15 percent in the last three months, Apple has upside now while excitement is muted, said Seymour, who owns the stock.
Read MoreApple confirms rumored Sept 9 event
Apple shares closed Thursday nearly 3 percent higher at about $113. It remains a long play against $103 per share, said trader Guy Adami.
But if Apple spikes into the event, shareholders could sell some of their stake ahead of possible downside on news, trader Brian Kelly contended.
Consumer Reports on Thursday gave a new version of Tesla's Model S a perfect score, calling it "the best-performing car that Consumer Reports has ever tested." Tesla shares jumped 8 percent on Thursday, closing at about $243.
Seymour said the result did not surprise him, but the stock remains overvalued. It could test $220 per share, he contended.
Adami noted that shareholders should keep a long position against $220 per share.
High-flying Amazon was hit hard during the market selloff early this week. But it picked up steam Thursday, closing 3.5 percent higher at about $518 per share.
Amazon should continue its upward momentum as long as it holds $500 per share, Adami contended.
Tim Seymour is long AAPL, T, BAC, DIS, F, GE, GM, GOOGL, INTC, JPM, Tim's firm is long BABA, BIDU, MCD, NKE, NOK, TSL, SBUX, YHOO.
Brian Kelly is long BBRY, BTC=; TWTR call spread, U.S. Dollar; he is short Euro, Ruble, Yen, Yuan, US Treasuries.
Karen is long BAC, C, FINL, FL, GOOG, GOOGL, JPM, KORS, M, SUNE, SUNE calls, she is short SPY, Her firm is long ANTM, AAPL, BAC, C, DIS, FBT, FINL, FL, GOOG, GOOGL, GPS, IBB, JPM, KORS, M, SUNE, URI, XBI, KORS call spreads, M call spreads, SUNE call spreads, SUNE puts, her firm is short IWM, SPY, MDY, USO, Karen Finerman is on the board of GrafTech International.
Guy Adami is long CELG, EXAS, INTC, Guy Adami's wife, Linda Snow, works at Merck.