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'Fast Money' Recap: Will Apple's Next Phone Be Delayed?

NEW YORK (TheStreet) -- The S&P 500 started the week higher, closing up 0.48% Monday. 

On CNBC's "Fast Money" TV show, the trading panel looked at Google (GOOGL) and Apple (AAPL)

Tim Seymour, managing partner of Triogem Asset Management, said the two stocks have both had good runs. China will be a big catalyst in the second half of 2014 for Apple. 

Karen Finerman, president of Metropolitan Capital Advisors, said the report Monday suggesting Apple's larger-screen iPhone would be delayed may not be true. It has not been confirmed. 

Guy Adami, managing director of, said a product delay might actually result in consumers wanting the iPhone even more. He said investors can own the stock into earnings and should sell half of their position the day of the earnings report. 

Steve Grasso, director of institutional sales at Stuart Frankel, argued Apple does not dominate the smart phone market (with roughly 20% market share) the way Google dominates the search engine market, (with roughly 70% market share). 

Brian Blair, managing director at Rosenblatt Securities, was very optimistic on Apple and its iPhone 6 launch. He said the phone will be in high demand in Asia and suspects the company is preparing to produce 90 million to 100 million phones. If the larger screen iPhone is indeed delayed until 2015, analysts will have to lower their estimates, he reasoned. 

Moshe Orenbuch, managing director at Credit Suisse, looked at bank stocks. He said Citigroup (C) had some of the lowest expectations from investors going into earnings. The $7 billion litigation cost is something the bank had to do in order to put those problems in the past and begin moving forward. It also had solid loan growth. The quarter was good but not extraordinary, he said. Citigroup is his top pick. He has a buy rating with a $62 price target. 

Grasso is a buyer of Citigroup based on its low valuation. Seymour and Finerman like Citigroup and Bank of America (BAC).

Adami said some bank stocks such as Citigroup are cheap for a reason. He likes U.S. Bancorp (USB)

Seymour likes shares of eBay (EBAY) on the long side based on a sum-of-the-parts valuation. Adami said  eBay continues to find support near the $48 level and looks good on the long side. 

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