By Roberto Pedone
WINDERMERE, Fla. (
) -- The traders of
"Fast Money" think that
has a lot of upside from current levels, following a call from a
analyst. The JPM analyst slapped a $400 price target on Apple following the company's earnings release, saying that the stock trades like a value stock and not like a high-growth story.
On Wednesday's "Halftime Report" segment, Patty Edwards told viewers that she owns Apple and will continue to hold it. However, she thinks the $400 target is a bit ambitious.
Jon Najarian said he thinks Apple can hit $400, but that won't happen for another two years. He explained that the call is all about grabbing headlines, and $325 is a more realistic price target.
Brian Kelly mentioned that if Apple can capture new business in the enterprise market then the stock can move up to $400. But it will need a catalyst of that magnitude.
The "Fast Money" crew has recently highlighted trading ideas that play off the tech sector and biotech sector and stocks with unusual options activity. Here are some highlights from over the past week as aggregated from the show.
: The crew highlighted a number of companies, including
, that they'll be watching ahead of their earnings reports. On Wednesday's "Fast Money" show, Jon Najarian told viewers: "I will be watching
, which reports quarterly earnings after the closing bell on Wednesday. It will be interesting to see what it does in after-hours trading, because after the last earnings report, the stock moved monstrously. I like the stock and I do think they continue to outperform." The
: Shares of Apple traded up in extended hours on Tuesday after the company reported a strong earnings result. How should you play the tech sector now? On Tuesday's "Fast Money" show, Pete Najarian told viewers: "I'm watching the action in
. They feed into Apple and they're doing well. In the Apple universe, I find there's strength in the related names as well." The
: The traders think that investors are missing out on some great opportunities in the biotech sector because they're too concerned with the overall market volatility. On last Wednesday's "Fast Money" show, ISI analyst Mark Schoenbaum told viewers: "
could go over $20 if their new diabetes drug is approved." The
Human Genome Sciences
: The traders highlighted some options trades and unusual options activity in stocks like
. On Wednesday's "Halftime Report" segment, Jon Najarian told viewers: "Keep an eye on
. Options activity is picking up and there are rumors that
is looking at BIIB." The
: The traders put together a list of stocks that are the best and worst names to follow as tech barometers. The list included names such as
. On Tuesday's "Fast Money" show, Dennis Kneale told viewers: "
are solid indicators of the tech industry. IBM is a corporate customer computer maker and if they have a disappointing top line you have to worry about how businesses are feeling." The
portfolio includes Apple and
: The traders see opportunity in the oil sector following the news that
plans to sell several major assets to
for $7 billion. On Tuesday's "Fast Money" show, Joe Terranova told viewers: "I think it's a phenomenal deal. Apache will come under pressure in the short-term, but I'm still bullish. I'd buy a third of a new position on the close over the next three days. I expect you'll be rewarded long term. Elsewhere in the space I like
-- Written by Roberto Pedone in Winderemere, Fla.
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