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'Fast Money' Recap: Focusing on Apple

NEW YORK (TheStreet) -- On Monday, the S&P 500 cooled down from its recent rally, closing 0.40% lower. 

On CNBC's "Fast Money" TV show, the trading panel looked at Apple (AAPL), which closed 2% higher Monday. 

Pete Najarian, co-founder of optionmonster.com and trademonster.com, said Apple has had very bullish options activity while the stock is up 24% since its stock split in April. 

The stock seems likely to make new highs and investors may want to consider buying shares of Cirrus Logic (CRUS) if they are bullish on Apple since the company derives 80% of its revenue from Apple, he added.  

Tim Seymour, managing partner of Triogem Asset Management, said shares of Apple are still not overvalued and argued China will become a more important market for the company. 

Karen Finerman, president of Metropolitan Capital Advisors, said the stock seems likely to trade up to $100. 

Josh Brown, CEO and co-founder of Ritholtz Wealth Management, said Apple's capital return for shareholders is one reason why many investors are buying the stock as well as the potential for future products.

Gene Munster, managing director and senior research analyst at Piper Jaffray, has a buy rating on Apple with a $105 price target. He said the company's new product categories and strong fundamentals are driving investors' increasing interest. He added that many investors are under-exposed to Apple, which could propel the stock even higher as more of them continue to buy. 

Finerman said investors' shouldn't "make too much" of Monday's selloff in financial stocks. She added that the low valuations make it easy for investors to stay long. 

Najarian said Wells Fargo (WFC) has been doing a terrific job of late and can "absolutely crush" its earnings expectations. 

Brown said investors may be surprised by how well the banks do this earnings quarter, especially JPMorgan Chase (JPM). Seymour reasoned there is a "low bar" of expectations for bank stocks this quarter. He said 2015 should be a good year for the sector. 

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SYM TRADE IT LAST %CHG
TSLA $263.82 0.00%
YHOO $37.67 0.00%
AAPL $122.64 -0.60%
FB $94.72 -0.60%
GOOG $631.93 0.63%

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