Disney shares slid 4 percent Wednesday after the media giant missed estimates for quarterly profit and sales. Apple, meanwhile, has shed 12 percent of its value this year, partly after disappointing earnings and guidance.
Traders discussed the stocks' merit.
Trader Guy Adami said he would not sell Disney, yet. Trader Karen Finerman added she does not "like the Disney risk-reward here," citing uncertainty about its ESPN sports network and who will succeed CEO Bob Iger when his contract expires in 2018.
Apple has struggled lately, and concerns about sales of its flagship iPhone have weighed on shares. The stock has fallen nearly 27 percent in the last year.
"Why not short it here?" Adami asked.
Trader Tim Seymour, though, said he bought Apple shares last week amid weakness. He highlighted the company's services revenue as a "small but bright spot."
Guy Adami is long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck.
Karen is long BAC, C, DRII, DRII calls, FB, FL, GOOG, GOOGL, JPM, LYV, KORS, M, MA, SEDG, SPY puts, URI. Her firm is long ANTM, AAPL, BAC, C, C calls, DRII, DRII calls, FB, GOOG, GOOGL, JPM, JPM calls, KORS, LYV, M, MOH, PLCE, SPY puts, URI, her firm is short IWM, MDY. Karen Finerman is on the board of GrafTech International.
Brian Kelly is long BBRY, Bitcoin, GLD, US Dollar; he is short Australian Dollar, BLK, CS, DB, Euro, EWA, EWH, FRC, Hong Kong Dollar, UBS, Yuan, 5-Year Note Futures
Tim Seymour is long AAPL, AVP, BAC, BBRY, CLF, DO, EDC, EWZ, F, FCX, FXI, GM, GOOGL, GRMN, GE, GLNCY, INTC, LQD, MCD, MPEL, NKE, RACE, RAI, RL, SINA, T, TWTR, UA, VALE, VZ, XOM. Tim's firm is long BABA, BIDU, CLF, EWZ, F, HD, KO, MCD, MPEL, NKE, PEP, PF, SAVE, SBUX, SINA, VALE, VIAB, WMT, WEN, YHOO, short HYG, IWM, WYNN