Instant Insights with the Fast Money traders
I'm bearish, says Guy Adami. Since Steve Jobs talked about margins the stock hasn't done much. And if the tape rolls over I think Apple goes down with it. I suspect it trades down to $285.
Not enough of their sales come from overseas, says Tim Seymour. Their overseas sales number has to get a lot bigger before I can say Apple has more upside.
The 50-day is $295 and the 100-day is around $275, adds Pete Najarian. If the stock pulls back the way Guy and Tim says it will - I'm a buyer.
I'm long and I plan to stay long, says Karen Finerman. I'm not worried about a move lower; if it comes I suspect it will be modest. I don't find valuations to be stretched.
I wouldn't bet against Apple into the holidays, says Simon Baker. I'm also a buyer on weakness.
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Trader disclosure: On November 16th, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Seymour owns (AAPL), (BAC); Seymour is short (FCX); Adami owns (AGU), (BTU), (NUE), (C), (GS), (INTC), (MSFT); Adami’s wife works at Merck; Finerman owns (AAPL); Finerman owns (BAC); Finerman owns (JPM); Finerman’s firm owns (WMT); Finerman and Finerman’s firm owns (JCG); Finerman's Firm Is Short (IWM); Finerman's Firm Is Short (SPY); Finerman's Firm Is Short (MDY); Finerman's Firm Is Short (IJR); Finerman's Firm Is Long Russell Puts; Finerman's Firm Is Long S&P Puts; Pete Najarian owns (BAC); Pete Najarian owns (SLV) and call spreads; Pete Najarian owns (CNI); Pete Najarian owns (F) Bonds; Pete Najarian owns (FIRE)
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