Apple’s iPhone 5 supply problem has been exaggerated, making the recent dip in the company’s stock an opportunity, Mike Murphy of Rosecliff Capital said Thursday on CNBC.
“The perceived slowdown in orders and deliveries for the iPhone 5 in completely overblown. It’s people looking for a negative there, so when you have Apple trading down almost 6 percent in a couple of days’ trading, it created a great opportunity,” he said on “Fast Money.”
Backing up the view was Jon Najarian of OptionMonster.com, who offered a play for next week.
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“You want to be short into Monday and Tuesday because that’s when the rumors come out and all the rest,” he said. “Then you want to be long into the end of the week. Why? Well, you’re going to get the sales for iPhone 5. You’re also going to see how many upgrades there have been. There were 100 million upgrades to the iOS 6 just in the first 24 hours of it being out there.”
“Everybody wants this on their sheets at the end of the quarter,” he added.
Najarian also said that retail investors would do well to look at puts to profit from moves like the midday 16-point turnaround.
Trader disclosure: On Sept. 27, 2012, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s “Fast Money” were owned by the “Fast Money” traders: Steve Weiss is long TOT; Steve Weiss is long HK; Steve Weiss is long QCOM; Steve Weiss is long AIG; Steve Weiss is long M; Steve Weiss is long WLP; Steve Weiss is long VZ; Steve Weiss is long VOD; Steve Weiss is long T; Steve Weiss is long CLNY; Steve Weiss is long AMTG; Steve Weiss is long MTGE; Steve Weiss is long BAC; Steve Weiss is long EUO; Steve Weiss is short VALE; Steve Weiss is short BHP; Steve Weiss is short RIO; Steve Weiss is short GOOG PUTS; Steve Weiss is short AAPL PUTS; Steve Weiss is short AKS; Stephanie Link is long AAPL; Stephanie Link is long JPM; Stephanie Link is long SBUX; Jon Najarian is long call spreads in AAPL; Jon Najarian is long call spreads in GS; Jon Najarian is long call spreads in JPM; Jon Najarian is long call spreads in YHOO; Jon Najarian is long call spreads in SBUX; Jon Najarian is long call spreads in FB; Jon Najarian is long call spreads in GOOG; Jon Najarian is long call spreads in HLF; Jon Najarian is long call spreads in DECK; Jon Najarian is long call spreads in TEX; Jon Najarian is long GLUU; Jon Najarian is long CME; Jon Najarian is long CBOE; Jon Najarian is long STSI; Mike Murphy is long AAPL; Mike Murphy is long WFC; Mike Murphy is long TGT; Mike Murphy is long TWI.
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