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Should You Rotate out of Apple?

If you’re like us you can’t help noticing that money seems to be flowing back into tech stocks that were shunned just a short while ago. We’re talking names like Intel, Microsoft and even Hewlett Packard.

And money is clearly flowing out of Apple ; it's down since the beginning of the month.

It may sound like sacrilege to the Apple faithful, but is it time for investors to turn their backs on the the iPhone maker?

Dan Niles of Alpha One Capital Partners is a seller. He tells us “component checks from Asia suggest Apple is cutting orders. Why would Apple be cutting component orders if business is great? It wasn’t that difficult for me to see the stock.”

Trader Joe Terranova sees it a little differently. “I think Apple right here remains a buy and moves higher into the end of the year.”

This is a conversation you won’t want to miss. Watch the video now!

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Meanwhile, Apple shareholders are closely watching the calendar with some major deadlines approaching. Fast Money trader Karen Finerman is among them. She says the period between October 26th and November 25th is key. Get all the details in the video here.



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Trader disclosure: On Oct 20, 2011, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Kelly is long GLD; Kelly is long TLT; Adami Owns AGU; Adami Owns C; Adami Owns GS; Adami Owns INTC; Adami Owns MSFT; Adami Owns NUE; Adami Owns BTU; Terranova is long VRTS; Terranova is long LQD; Terranova is long MUB; Terranova is long FCX; Terranova is long TBT; Terranova is long OXY; Terranova is long GS; Terranova is long F; Terranova is long CAT; Terranova is long AXP; Terranova is long APC; Terranova is long EMC; Terranova is long AAPL; Terranova is long IBM; Finerman owns AAPL; Finerman owns BAC; Finerman owns GOOG; Finerman owns MA; Finerman owns JPM stock leaps & puts; Finerman’s firm owns AAPL short calls; Finerman’s firm owns MSFT; Finerman’s firm owns YHOO short calls; Finerman’s firm owns IBM short calls; Najarian is long call spreads in CMG; Najarian is long call spreads in AAPL; Najarian is long call spreads in MSFT; Najarian is long call spreads in CMI; Najarian is long call spreads in IBM; Najarian is long CBOE; Najarian is long CME; Najarian is long CIGX; Niles is short INTC; Niles is long NUAN; Dicker owns TOT; Dicker owns RIG; Dicker is long oil

For Mike Khouw
Cantor Fitzgerald is a market maker of MSFT
Cantor Fitzgerald is a market maker of POT
Cantor Fitzgerald is a market maker of MOS
Cantor Fitzgerald is a market maker of FCX
Cantor Fitzgerald is a market maker of INTC
Cantor Fitzgerald is a market maker of IBM
Cantor Fitzgerald is a market maker of HPQ
Cantor Fitzgerald is a market maker of AAPL
Cantor Fitzgerald is a market maker of NUAN
Cantor Fitzgerald is a market maker of YHOO
Cantor Fitzgerald is a market maker of LUV
Cantor Fitzgerald is a market maker of UNP
Cantor Fitzgerald is a market maker of DELL
Cantor Fitzgerald is a market maker of WYNN

For Brent Thill
1. The U.S. equity strategist, a member of his team, or one of their household members has a long common stock position in Microsoft Corp.

2. This company/entity is, or within the past 12 months has been, a client of UBS Securities LLC, and investment banking services are being, or have been, provided.: Microsoft

3. This company/entity is, or within the past 12 months has been, a client of UBS Securities LLC, and non-investment banking securities-related services are being, or have been, provided.: Microsoft

4. This company/entity is, or within the past 12 months has been, a client of UBS Securities LLC, and non-securities services are being, or have been, provided.: Microsoft

5. Within the past 12 months, UBS Securities LLC has received compensation from this company/entity: Microsoft

For Jorge M. Beristain
Deutsche Bank and/or its affiliate(s) owns one percent or more of (FCX) any class of common equity securities of this company calculated under computational methods required by US law. Deutsche Bank and/or its affiliate(s) has received non-investment banking related compensation from (FCX) within the past year.

CNBC.com with wires.