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'Fast Money' Recap: Apple's Big iPhone Boost

Stocks in this article: CMC RRC IBM AVAV TIE

Lee switched to Todd Gordon, of Aspen Trading, for a currency trade. With the euro still having problems because of Europe's debt crisis, he advised shorting the euro against a long Australian dollar.

Lee noted that crude oil prices rose above $100 a barrel today. Grasso said he expects the positive correlation between natural gas and oil plays to come to end in the next quarter. He said he would avoid mid-capitalized names in natural gas such as Comstock (CRK).

Terranova said investors could still be in natural gas if they invested in a name like Southwestern Energy (SWN), which has learned to live with $4 natural gas.

The undefeated Green Bay Packers is offering fans to own a piece of the team at $250 a share. Mark Murphy, the president and CEO of the Green Bay Packers, said the money raised from the sale of 250,000 shares will be directed toward updating the stadium. The stock, which is being bought more for sentimental value than anything else, is being sold through the Internet.

Lee said General Electric (GE) was one of the best performers in the market after it garnered an outperform rating and $21 price target from Sanford C. Bernstein.

Steven Winoker, the Sanford Bernstein analyst who made the call, called attention to the prospects of a 10% dividend increase by GE in 2012. He also said the company's industrial and financial services operations are doing well.

Shifting to the Volatility Playbook, Tim Freeman, of Elevation, LCC, said he expects volatility, which has been flat for the year, to come in. He said the S&P could be looking at 1300 if the upcoming meetings in Europe and at the Fed live up to expectations.

Apple shares appear headed for a rebound in December. Mike Walkley, an analyst with Canaccord Genuity, said his company's checks around the globe show that Apple's iPhones are gaining market share in the smartphone market at the expense of Research In Motion (RMM).

He said Apple is on target to capture 60% of the global handset industry profits in its first quarter. Moreover, he expects iPhone shipments will jump 80% sequentially to 30 million units for the December quarter.

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