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Is Apple Good for What Ails Your Portfolio?

Amid so much uncertainty, will Apple continue to work? The analyst community sure thinks so.

Ticonderoga says the latest MacBook Air is generating strong demand and expects that the “momentum” should continue.

Canaccord Genuity is raising its Apple price target to $515 from $510 and reiterates that Apple remains a top pick in part due to strength in iPad sales.

And the perennial Apple bull Gene Munster at Piper Jaffray now says Apple’s marketshare “could more than double” largely due to the growing popularity of the iPhone.

Should you follow the crowd?

According to trader Joe Terranova -- 'Yes!' He believes Apple is in the early stages of it's success and fully expects the company to innovate and trailblaze for a long time to come. Terranova also thinks related names such as chipmakers Qualcomm and Broadcom remain attractive.

Tim Seymour is on the other side. He does not think the best is yet to come for Apple – instead he thinks its here. “There are a lot of other companies building products similar to Apple. I’m not sure if Apple’s lead over the competition can endure,” he says.




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Trader disclosure: On Aug 1, 2011, 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; Seymour owns (BAC); Seymour owns (GE); Finnerman and Finnerman’s firm own (AAPL); Finnerman owns (BAC) and Finnerman’s firm own (BAC) leaps; Finnerman owns (JPM) and Finnerman’s firm owns (JPM) stock and (JPM) leaps; Terranova owns (XOM); Terranova owns (DIS); Terranova owns (WFM); Terranova owns (LULU); Terranova owns (MSFT); Terranova owns (TM); Terranova owns (JWN); Terranova owns (MCD); Terranova owns (PEP); Terranova owns (MA); Terranova owns (BX); Terranova owns (GS); Terranova owns (DAR); Terranova owns (CAT); Terranova owns (VRTS); Terranova owns (AAPL); Terranova owns (F); Terranova owns (CVI); Terranova owns (IBM); Terranova owns (FCX); Adami Owns (AGU); Adami Owns (C); Adami Owns (GS); Adami Owns (INTC); Adami Owns (MSFT); Adami Owns (NUE); Adami Owns (BTU); Jon Najarian owns (AAPL) call spreads; Jon Najarian owns (BIDU) call spreads; Jon Najarian owns (APKT) call spreads; Jon Najarian owns (TLB)

For Joe Terranova
Terranova is Chief Market Strategist of Virtus Investment Partners, LTD
Terranova is Chief Market Strategist of Virtus Investment Partners, LTD
Virtus Investment Partners Owns More Than 1% Of (ABAX)
Virtus Investment Partners Owns More Than 1% Of (AMKR)
Virtus Investment Partners Owns More Than 1% Of Building Materials Holdings
Virtus Investment Partners Owns More Than 1% Of (CASS)
Virtus Investment Partners Owns More Than 1% Of (CSVI)
Virtus Investment Partners Owns More Than 1% Of (EXR)
Virtus Investment Partners Owns More Than 1% Of (FCFS)
Virtus Investment Partners Owns More Than 1% Of (KRC)
Virtus Investment Partners Owns More Than 1% Of (LDR)
Virtus Investment Partners Owns More Than 1% Of (LHO)
Virtus Investment Partners Owns More Than 1% Of (NRCI)
Virtus Investment Partners Owns More Than 1% Of Sun Pharmaceutical Industries Ltd
Virtus Investment Partners Owns More Than 1% Of (DBV)
Virtus Investment Partners Owns More Than 1% Of (RLI)
Virtus Investment Partners Owns More Than 1% Of (XLB)
Virtus Investment Partners Owns More Than 1% Of (XLV)
Virtus Investment Partners Owns More Than 1% Of (XLP)
Virtus Investment Partners Owns More Than 1% Of (XLE)
Virtus Investment Partners Owns More Than 1% Of (XLF)
Virtus Investment Partners Owns More Than 1% Of (XLI)
Virtus Investment Partners Owns More Than 1% Of (XLK)
Virtus Investment Partners Owns More Than 1% Of (XLU)
Virtus Investment Partners Owns More Than 1% Of (SUBK)
Virtus Investment Partners Owns More Than 1% Of (WDFC)
Virtus Investment Partners Owns More Than 1% Of (YDNT)
Virtus Investment Partners Owns More Than 1% Of Domino's Pizza UK & IRL PLC

For Scott Nations
Nations owns (SPY)

For Dennis Gartman
Funds Managed By Dennis Gartman and Dennis Gartman are short the S&P
Funds Managed By Dennis Gartman and Dennis Gartman own the Australian Dollar
Funds Managed By Dennis Gartman and Dennis Gartman are short the British Pound
Funds Managed By Dennis Gartman are short (EUR)
Funds Managed By Dennis Gartman are long gold.

For Doug Kass
Seabreeze Partners Management is short (GE)
Seabreeze Partners Management is short (DHR)

For Andy Busch
** No disclosures

For Carter Worth
** No disclosures

CNBC.com with wires.