Hoopes joins the guys for this conversation and tells them that he believes most of the good news is already in the price of AAPL stock. He adds, since they announced the iPhone the stock is up 41% versus a market that’s up in the single digits. Hoopes says unless they have a flawless launch, investors might be disappointed.
8 million units in 2008 and 45 million units in 2009, how can you not want to own this stock?” asks Eric Bolling.
On a dip I would clearly buy it replies Hoopes. We’re biased positive. But the revenues associated with the iPhone and the earnings potential today are negligible.
Dylan Ratigan asks what is the number to watch? What is the unit number that makes you worried?
The unit number is on the follow-back says Hoopes. We’ve got to see how people like this device. Is this thing going to work and are people going to recommend it?
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Trader disclosure: On June 12 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders:
Macke Owns (ATVI), Najarian Owns (NITE), (GS), (STX), (AAPL); Bolling Owns (ICE), (T), (DIS) (NMX); Bolling Is Short S&P Futures; Bolling Is Short Nasdaq Futures;ThinkEquity Partners LLC Is A Market Maker In (MSFT);ThinkEquity Partners LLC Is A Market Maker In (AAPL)