×

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 9th.

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.

______________________________________________________
Got something to to say? Send us an e-mail at fastmoney-web@cnbc.com and your comment might be posted on the Rapid Recap. If you'd prefer to make a comment but not have it published on our website send your e-mail to fastmoney@cnbc.com.

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)

GE Is The Parent Company Of CNBC

For Steve Grasso
Stuart Frankel & Grasso's Partners Own (CUBA)
Stuart Frankel & Grasso's Partners Own (DVN)
Stuart Frankel & Grasso's Partners Own (EOG)
Stuart Frankel & Grasso's Partners Own (GRN)
Stuart Frankel & Grasso's Partners Own (HSPO)
Stuart Frankel & Grasso's Partners Own (MSFT)
Stuart Frankel & Grasso's Partners Own (NWS.A)
Stuart Frankel & Grasso's Partners Own (NXST)
Stuart Frankel & Grasso's Partners Own (NYX)
Stuart Frankel & Grasso's Partners Own (PDE)
Stuart Frankel & Grasso's Partners Own (PRST)
Stuart Frankel & Grasso's Partners Own (RDC)
Stuart Frankel & Grasso's Partners Own (ROK)
Stuart Frankel & Grasso's Partners Own (TBT)
Stuart Frankel & Grasso's Partners Own (TLM)
Stuart Frankel & Grasso's Partners Own (XOM)
Stuart Frankel & Grasso's Partners Own (XRX)
Stuart Frankel & Grasso's Partners Own (SDS)
Stuart Frankel & Grasso's Partners Own (STWD)
Stuart Frankel & Grasso's Partners Are Short (QQQQ)
Stuart Frankel & Grasso's Partners Are Short (CL)

For Joe Terranova
Terranova Works For (VRTS)
Terranova Is Chief Market Strategist Of Virtus Investment Partners, Ltd.
Terranova Is Co-Portfolio Manager Of The Virtus Diversifier PHOLIO
Virtus Diversifier PHOLIO Owns (IGE)
Virtus Diversifier PHOLIO Owns (DBC)|
Virtus Diversifier PHOLIO Owns (DBV)
Virtus Investment Partners Owns More Than 1% Of (CAL)
Virtus Investment Partners Owns More Than 1% Of (DLR)
Virtus Investment Partners Owns More Than 1% Of (EXR)
Virtus Investment Partners Owns More Than 1% Of (IGE)
Virtus Investment Partners Owns More Than 1% Of (DBV)
Virtus Investment Partners Owns More Than 1% Of (SKT)
Virtus Investment Partners Owns More Than 1% Of (TNB)
Virtus Investment Partners Owns More Than 1% Of (UA)
Virtus Investment Partners Owns More Than 1% Of (CLB)

For Charles Boorady
Citigroup Global Markets Or Affiliates Has Managed Or Co-Managed An Offering Of Securities Of (AET), (CI) In Past 12 Months
Citigroup Global Markets Or Affiliates Has Received Investment Banking Compensation In Past 12 Months From (AET), (CI), (UNH), (MHS), (CAH), (ABC)
Citigroup Global Markets Or Affiliate Received Non-Investment Banking Compensation In Past 12 Months From (AET), (GTS), (CI), (CVH), (HNT), (HS), (HUM), (UNH), (MHS), (CAH), (ABC), (MCK)
(GTS), (HS), (AET), (CI), (UNH), (MHS), (CAH), (ABC) Are Or In Past 12 Months Were Investment Banking Clients Of Citigroup Global Markets
(AET), (CI), (CVH), (HNT), (HUM), (UNH), (CAH), (GTS) Are or In Past 12 Months Were Clients Of Citigroup Global Markets (Non-Investment Banking, Securities Related Services)
(AET), (CI), (CVH), (HNT), (HS), (HUM), (UNH), (MHS), (CAH), (ABC), (MCK), (GTS) Are or In Past 12 Months Were Clients Of Citigroup Global Markets (Non-Investment Banking, Non-Securities Related Services)

Citigroup Global Markets Or Affiliate Received Compensation In Past 12 Months From (AET), (GTS)
Citigroup Global Markets Is A Market Maker In (CAH), (PFWD)

For Mike Khouw:
Cantor Fitzgerald Is A Market Maker In (AAPL)

For Jim Iuorio:
Iuorio Owns (GLD), (SLV)