What do you think? We want to know!
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TAKE YOUR POSITION: APPLE, TECH
This week the Street hears earnings from 13 Dow components and over 100 S&P companies, but one of the most closely watched, Apple, delivers its report after the close Monday.
Considering the stock is at an all time high, how should you position?
I’d be long, says Piper Jaffray's Gene Munster. I think investors should take themselves out of the quarter mentality and think about where the numbers are going over the next 1-2 years. I have an ‘Overweight’ rating on apple with a $390 price target.
Options action suggests the stock should move 6% in either direction in the wake of earnings, says Brian Stutland.
I spoke with Brian Marshall at Gleacher and although he believes in the Apple story, he also says it seems investors are just buying this stock blindly, adds host Melissa Lee.
Elsewhere in tech, I’m very interested in what VMWare says when they report after the bell, adds Brian Kelly. I want to hear what they say about server refresh, PC refersh and what’s converging into the cloud. I think investors can extrapolate what they say to other areas of cloud computing.
(Click here to go to Options Action: Apple -- and check out Stutland's collar risk reversal for investors who already own shares.)
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Trader disclosure: On Oct.18, 2010, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Stutland is short (AAPL) puts; Stutland owns (BAC); Stutland owns (CME); Stutland owns (GS); Stuland owns (IBM) short calls; Stutland owns (MCD); Stutland is short (TOL), short put; Stutland owns (WFC) and (WFC) bonds; Karabell owns (AAPL), (C), (GOOG), (IBM); Grasso owns (ASTM), (BA), (BAC), (C), (CSCO), (JPM), (LPX), (MO), (MOT), (NDAQ), (PFE), (PRST)
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