Apple TV Just a ‘Head-Fake’: Porter Bibb

Look for Apple's television innovation to be in software, not hardware, Porter Bibb of Media Tech Capital Partners said Thursday.

"There's a lot of growth left in Apple, but the perception in the market is they don't have any more innovation," Bibb said. "Everyone was hanging on the Apple TV project, which is a head-fake. They don't have a TV project, and they're never going to have a TV project in terms of a flat-screen set. That's a crazy business."

On "Fast Money," Bibb said that Apple would play on its strengths.

"I think they're playing around, but where the Apple TV project is going to lie is not in hardware but in software. They're going to put software into the iPad Mini or into some other device that's a portable device that's going to stream Internet TV and other TVs into the set without a set-top box, without the cable systems' clunky remote control," he said.

(Read More: What Apple TV Will Do to Stock: Munster)

"And they'll also make it interactive so you can buy things off the TV screen, and that's Apple's business. They're not in the hardware business of selling low-margin, commodity TV sets. Ask Samsung. Ask LG. Ask Sharp. Ask Sony. They're all losing money on those products."

Goss said he still saw Apple shares as "a steal," touting its ownership of its distribution channel and brushing off margin contraction due to having invented a category – the tablet – that's being crowded by competitors.

"I think 2013 you're going to see them scraping $700 again," he said.

Trader disclosure: On Dec. 13, 2012, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Joe Terranova is long VRTS; Joe Terranova is long TJX; Joe Terranova is long AAPL; Joe Terranova is long YUM; Joe Terranova is long SWN; Joe Terranova is long GLW; Joe Terranova is long DELL; Joe Terranova is long VZ; Joe Terranova is long XOM; Jon Najarian is long RIMM CALLS; Jon Najarian is long HPQ CALLS; Jon Najarian is long XLNX CALLS; Jon Najarian is long BX CALLS; Jon Najarian is long AAPL CALL SPREADS; Jon Najarian is long FB CALL SPREADS; Jon Najarian is long NFLX CALL SPREADS; Jon Najarian is long JCP CALL SPREADS; Jon Najarian is short AGQ PUTS; Jon Najarian is short GLD PUTS; Jon Najarian is long CME; Jon Najarian is long CBOE; Steve Weiss is long AAPL; Steve Weiss is long GDX; Steve Weiss is long GLD; Steve Weiss is long XLU; Steve Weiss is long XLF; Steve Weiss is long WMT; Steve Weiss is long TGT; Steve Weiss is long GOOG; Stephanie Link is long AAPL; Stephanie Link is long GS; Stephanie Link is long SBUX.