With a string of potential catalysts, Apple holds upside through the end of this year and into 2016, “Fast Money” traders said Monday.
The tech giant’s new iPad Pro goes on sale this month. Moving forward, possible ventures like streaming content and car technology could push Apple shares much higher long term, said trader Pete Najarian.
“I think it does break out,” said Najarian, who owns Apple shares.
But the stock could also get a near-term boost from the iPad rollout, said trader Karen Finerman, whose firm Metropolitan Capital Advisors owns Apple. She added that the device “looks great.”
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Trader Tim Seymour noted that Apple’s iPhone has gained traction in China. But Seymour, who owns Apple shares, said the company can look to newer markets for growth, as well.
Trader Steve Grasso, who also owns Apple, believes the stock will grind higher next year.
Tim Seymour is long AAPL, BAC, CLF, DIS, F, FCX, GE, GM, GOOGL, INTC, JPM, KO, LGF, T, TWTR, VRX. Tim’s firm is long BABA, BIDU, MCD, NKE, NOK, SBUX, YHOO.
Long AAPL, AMAT, BAC, BMY, BP, CSX, DIS, DISCA, DKS, FOXA, GE, KKR, KO, MRK, PEP, PFE, PHM he is long calls ABX, BEE, DAL, DOW, FIT, JOY, LM, MRK, PBR, POT, SLV, UAL, WYNN, XLF He is long puts EWW, FCX, MRO
Steve is Long AAPL, BA, BAC, CC, DD, DIS, DECK, EVGN, FIT, KBH, MJNA, MBLY, MU, OLN, PFE, PHM, T, TWTR, GDX firm is long AMZN, WYNN kids own EFA, EFG, EWJ, IJR, SPY
Karen is long BAC, C, FL, GOOG, GOOGL, JPM, KORS, KORS call spreads, M, URI, she is short SPY, Her firm is long ANTM, AAPL, BAC, C, DIS, DIS puts, FL, GOOG, GOOGL, GPS, JPM, KORS, KORS call spreads, M, M calls, M call spreads, M puts, MA, SUNE, SUNE call spreads, URI, URI long puts, her firm is short IWM, SPY, MDY, USO, XRT, Karen Finerman is on the board of GrafTech International.