×

Behold, Apple’s Latest Creation

Something new is coming from Appleand it’s coming as soon as January 27th!

Earlier in the week, Apple said it would hold a special event" in San Francisco on January 27 to unveil its "latest creation."

Although Apple did not supply any further details, immediately the blogosphere began buzzing that the event was to unveil a tablet computer.

According to The Wall Street Journal blog, the color multimedia device will allow users to browse the Web, listen to music, watch movies or television shows and also serve as an electronic book and newspaper reader.

A tablet computer would be Apple's first major product release since it came out with the popular iPhone three years ago.

What's the trade?

It wouldn't be so shocking to see the Apple tablet replace the Kindle, muses Karen Finerman. Especially since the WSJ is reporting that Apple is talking to HarperCollins about bringing ebooks to its new tablet. If that's accurate it could harm Amazon .

I'm a buyer of Amazon around $106, says Guy Adami.


______________________________________________________
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 those e-mails to fastmoney@cnbc.com.

Trader disclosure: On January 19th, 2010, 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), (BTU), (C), (GS), (INTC), (MSFT), (NUE); Finerman Owns (AAPL); Finerman's Firm Is Short (IJR), (MDY), (SPY), (IWM); Finerman's Firm Owns (BAC), (BAC) Leaps; Finerman Owns (BAC) Preferred, (BAC); Finerman's Firm Owns (WFC) Preferred; Finerman's Firm Owns (MCD), (MSFT), (YUM); Terranova Is Short (CMA), (ICE), (ESS), (JCI), (CAL), (AGU); Terranova Owns (QCOM), (MSFT), (DELL), (AAPL), (EMC), (FCX), (FTO), (XOM), (BAC), (JPM); Terranova Owns (POT) Feb. Puts; Terranova Owns (XHB) Mar. Puts

GE Is The Parent Company Of CNBC

For Joe Terranova
Terranova Works For (VRTS)
Terranova Is Chief Market Strategist Of Virtus Investment Partners, Ltd.
Virtus Investment Partners Owns More Than 1% Of (CLB)
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 (XLY)
Virtus Investment Partners Owns More Than 1% Of (DBV)
Virtus Investment Partners Owns More Than 1% Of (UA)
Virtus Investment Partners Owns More Than 1% Of (XLB)
Virtus Investment Partners Owns More Than 1% Of (XLI)
Virtus Investment Partners Owns More Than 1% Of (SKT)

For Gary Kaminsky
Kaminsky Is Short (QQQQ)

For Whitney Tilson
Funds Co-Managed By Tilson Own (BRK.A)
Funds Co-Managed By Tilson Own (BRK.B)
Funds Co-Managed By Tilson Own (WFC)
Funds Co-Managed By Tilson Own (AXP)
Funds Co-Managed By Tilson Are Short (ITB)
Tilson Owns (BRK.B)

For Mark Mahaney
Citigroup Global Markets Or Affiliate Received Non-Investment Banking Compensation From (AMZN) In Past 12 Months
(AMZN) Has Been A Non-Investment Banking Client Of Citigroup Global Markets In Past 12 Months (Securities-Related Services, Non-Securities Related Services)
Citigroup Global Markets Is A Market Maker In (AMZN)

For Zachary Karabell
Karabell Owns (SINA)
Karabell Owns (NTES)
Karabell Owns (HON)
Karabell Owns (FXI)

Late disclosure additions:
Funds Managed By Whitney Tilson Own (MSFT)
Funds Managedy By Whitney Tilson Own (PFE)
Finerman's Firm Owns (BCR)
Finerman's Firm Owns (BDX)
Finerman's Firm Owns (BSX)
Finerman's Firm Owns (STJ)
Finerman's Firm And Finerman Own (GOOG)
Seymour Owns (X)
Seymour Owns (MSFT)
Finerman's Firm Owns (PLCE)
Finerman's Firm And Finerman Own (FLS)
Seymour Owns (AAPL)
Seymour Owns (BAC)
Seymour Owns (POT)
Seymour Owns (SWC)


CNBC.com with wires