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'Fast Money' Recap: Apple's Hot New iPhone

Lee noted some breaking news from the Wall Street Journal which reported that Apple (AAPL) is working on a new iPhone and a model with CDMA technology for Verizon (VZ).

Jim Goldman, a CNBC reporter, said the Verizon offering is significant because it will give Apple increased market penetration and deliver a blow to Research In Motion (RIMM).

Najarian said investors should used any pullback in RIM to get into the stock. Brian Kelly said the CDMA phone would be a big leap for Apple because it will make the iPhone a "world phone."

Peter Misek, director of research at Canaccord Adams, said mobility is the biggest driver of Apple stock. He said iPhone expansion provides Apple with a much bigger growth opportunity than the PC market. He said that if the reports are true about the Verizon launch, analysts will have to raise their numbers for the stock.

He said the launch could come as early as June. He said sources at Verizon are telling him the company could get its hands on the new phone in nine to 12 months.

Scaramucci said he met with Austan Goolsbee, chief economist for President Obama's economic recovery advisory board. According to Scaramucci, Obama will make a big push on financial regulatory reform a day after the recess and have it done by Memorial Day.

In addition, the Obama administration will tax more but not crimp economic growth. Scaramucci also said the White House fears a double-dip recession more than inflation and that it wants to pass an immigration bill to keep smart foreign PhDs to stay in the U.S.

Lee came back to Worth, who said he believes Alliancebernstein (AB) and Chubb (CB) are about to break out of their trading ranges as they catch up with other stocks in their sectors.

As an alternative investment to stocks, Finerman mentioned pick up Ford's 7.45% bond that matures in 2031. She said the bond, which provides a 8% yield, provides investors some exposure in a stock that has enjoyed a big run so far. "It's a nice way to play it," she said.

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