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Apple or Amazon? Trading the tech titans

Apple and Amazon continue to dive into similar ventures, and both have recently ramped up their efforts in television. But regardless of who pulls ahead in consumers' living rooms, Apple's stock may hold more long-term upside, some CNBC "Fast Money" traders said.

Apple on Wednesday outlined new features for its Apple TV, which competes with Amazon's Fire TV. Recent reports also suggest Apple could work on original programming, an area in which Amazon has already found success.

Apple TV
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Apple TV

But for investors, Apple may stand in a better position, particularly after a 68 percent climb for Amazon this year, said trader Brian Kelly. He noted that Apple's roughly $200 billion cash pile sets it apart.

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While Apple's product event this week was not "particularly interesting," it still looks more appealing than Amazon, said trader Dan Nathan.

Trader Steve Grasso noted that, while he owns Apple, Amazon has recently shown its ability to "turn the switch" to boost profitability when necessary. Amazon is "not that easy to replicate," which makes it a clear pick, trader Guy Adami contended.

Disclosures:

Dan Nathan

Dan is long QQQ Oct put spread, XBI sept put spread, TWTR, PG.

Steve Grasso

Steve is long AAPL, BA, BAC, CC, DD, DIS, DECK, EVGN, FIT, KBH, MJNA, MU, PFE, PHM, STRP, T, TWTR, GDX, firm is long BP, COP, CVX, FCX, NE, NEM, OXY, RIG, WYNN, AMZN His kids own EFA, EFG, EWJ, IJR, SPY.

Brian Kelly

Brian Kelly is long BBRY, TWTR calls, Bitcoin, U.S. Dollar; he is short British Pound, Euro, Yen, Yuan, US Treasuries.

Guy Adami

Guy Adami is long CELG, EXAS, INTC, Guy Adami's wife, Linda Snow, works at Merck.