Trading Apple Ahead Of Media Extravaganza

Apple's stock has often made wild sings ahead of its annual media extravaganza, which will be held this year on September 9^th.

In year's past it’s been the event where Apple has introduced its game-changing products such as new iPods for the holiday season or exciting new content for iTunes.

However, this September looks to be a bit lackluster.  Apple watchers mostly expect revamped iPods again with the iPod nano and touch models widely expected to be updated with digital cameras, while the iTouch may also get a video camera.

And rumors also continue to rumble that the company will introduce a new and improved Apple TV and there’s talk the Beatles catalog may finally be coming to iTunes, but such speculation is not new and many are doubtful.

And there’s always talk of a Mac tablet.

Beyond the gadgets, the biggest surprise may be the appearance of Steve Jobs, who returned to work in June after a 6-month medical leave of absence, during which time he underwent a liver transplant. Jobs has not appeared at an Apple event since October of 2008.

"It would be great if he (Jobs) does appear, but I'm not expecting it," said Kaufman Bros analyst Shaw Wu. "Most investors have moved beyond that."

In fact, it seems few analyst expect any big surprises this year – but don’t be caught off guard. Considering the company’s track record the potential is always there.

What's the trade?

I think Apple is a name investor should own, says Joe Terranova, because seasonally Apple is moving into a strong time of year.

I also think Apple shares keep chugging along, adds Tim Seymour.

If you think the market is going to be benign or go higher then I’d own Apple, explains Guy Adami. But if you think the market is going down I think Apple goes down faster.

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Trader disclosure: On Sept. 4, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders: Adami Owns (AGU), (C), (INTC), (MSFT), (BTU), (NUE), (GS); Grasso Owns (AAPL), (ABK), (ASTM), (BA), (BAC), (C), (COST), (CSCO), (PRST), (V), (WMT), (FAZ); Terranova Owns (AAPL), (QCOM), (EOG); Terranova Owns Gold Dec. Futures; Seymour Owns (AAPL), (BAC), (ETFC), (CHL), (VIP); Seygem Asset Management Is Short (FXI)

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