While Samsung's Note 7 woes could be a godsend for Apple, the same might not be said for the tech giant's suppliers.
Semiconductors have fallen about 2.75 percent in October with one of the biggest names, Qualcomm, dropping almost 4 percent during the same time. The Apple supplier had just seen its stock surge at the end of September after news of a possible $30 billion acquisition of Dutch chipmaker NXP Semiconductors.
But since then, Qualcomm has dropped and traders have decided it's time to opt out. While the stock saw two times its average daily call volume on Tuesday, Dan Nathan of RiskReversal.com points out that the volume was more due to traders "selling out of prior bullish bets."
For instance, one trader sold to close 2,000 of the January 67.5-strike calls at $2.42 when the stock sat at $65.50 in the afternoon.
However, it does remain to be seen what happens out of Qualcomm's possible acquisition of NXP Semiconductors.
"Who knows what they end up paying for them," said Nathan Tuesday on CNBC's "Fast Money." "But I think it does make sense if you're playing for further upside in Qualcomm to be long calls rather than stock right here."