And then there’s Apple’s world wide developer’s conference.
Apple enthusiasts are almost frenetic to hear more about the third generation iPhone. According to ZDNet “Rumors abound over new features for the iPhone. Among the front-runners are an integrated video camera (and video chat), a built-in compass (presumably to aid turn-by-turn directions) as well as beefed up memory and processor speeds. “
With so many catalysts driving the sector, how should you trade tech stocks?
I think Apple is still a relatively cheap stock, says Morgan Keegan analyst Tavis McCourt, even though historically the stock has traded off after a conference I'm bullish Apple through the end of the year.
The equity valuation in Palm means they have to hit a home run with the launch to support these levels, adds Joe Terranova. I’d be careful with this stock.
I think Radio Shack is an interesting play, muses Karen Finerman. They’ve gotten their balance sheet in shape and they have a relationship with Sprint.
Look at Intel, counsels Pete Najarian. The deal mentioned above could make it a $19 stock, he speculates.
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Trader disclosure: On June 4th, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Najarian Owns (BX) Call Spread; Najarian Owns (DELL) Calls; Najarian Owns (FCX) Call Spread; Najarian Owns (INTC) Call Spread; Najarian Owns (MOS) Call Spread; Najarian Owns (PALM) Calls; Najarian Owns (WNR) Call Spread; Terranova Owns (FCX), (TER), (XBI), (RIMM), (GENZ); Terranova Owns (X) & (X) Calls; Terranova Owns (BRCM) & (BRCM) Calls; Terranova Owns (DIS) Call Spread; Terranova Owns (POT) & (POT) Calls; Terranova Owns (JPM) & (JPM) Calls; Terranova Owns (BTU) & (BTU) Calls; Terranova Owns (MS) & (MS) Calls; Najarian Owns (ELN) & (ELN) Calls; Finerman's Firm Owns (FLIR); Finerman Owns (TBT); Finerman's Firm Owns (AXYS), (NOK), (PBR), (TBT), (RIG), (WMT), (MRO); Finerman's Firm And Finerman Own (BAC) Preferred Shares And Are Short (BAC); Finerman's Firm And Finerman Own (WFC) Preferred Shares, Finerman's Firm Is Short (WFC); Finerman's Firm Is Short (IJR), (MDY), (SPY), (IWM), (USO); Seymour Owns (TTM), (AAPL), (BAC), (BX), (EEM), (FXI), (TSO), (INFY), (MGM), (TIE); Seymour Is Short (NUE); Seymour's Firm owns (MBT)
For Tavis McCourt
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