Smartphone Wars

The smartphone wars are picking up as Google prepares to release its Android mobile software platform. How should you trade?

Google's mobile operating system platform code-named Android appears to be encountering setbacks, at least according to the folks at The Wall Street Journal.

It's a surprise on a number of fronts, explains CNBC’s Jim Goldman in his blog Tech Check, but points to one key theme at Google that might be more distressing than Android's delay all on its own: Google seems to have this knack for not being able to execute organically when it comes to new initiatives, and that could signal a deeper problem than merely a longer wait for the company's entry into the wireless world.

Months ago I told you there was a smartphone coming from Google, exclaims Pete Najarian. (He called it the G-Phone.) The trouble is Google has no captain on this ship. There are something like 30 companies piecing the thing together. (He fears it's a bit like Google's project to go into space.)

Meanwhile, ahead of earnings Wednesday Piper Jaffray boosted its price target on Research in Motion saying the BlackBerry smartphone maker continues to gain market share even as the handset market performs sluggishly.

If you’re looking for a trade, it’s RIMM ahead of earnings, adds Najarian.

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Trader disclosure: On June 23, 2008, 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 (HAS), (WMT), (MSFT), (INTC); Najarian Owns (AAPL), (TSO), (XLF), (CHK); Najarian Owns (LLL) Calls, (SLB) Calls, (SD) Calls; Najarian Owns (MER) Puts; Adami Owns (NUE), (BTU), (C), (AGU), (GS), (INTC), (MSFT); Finerman Owns (GS); Finerman's Firm Owns (CYBX), (MO), (MSFT), (NYX), (PM), (SBUX), (TSO), (VLO); Finerman's Firm Owns SPX Index Puts; Finerman's Firm And Finerman Own (C) And (C) Leaps; Finerman's Firm Is Short (BIG), (IYR), (IJR), (MDY), (IWM), (SPY)