NEW YORK (TheStreet) -- Airlines stocks including Delta Air Lines (DAL) - Get Report , Spirit Airlines (SAVE) - Get Report and United Continental Holdings (UAL) - Get Report all fell Wednesday after the price of West Texas Intermediate climbed 3.5%. Is it finally time to bail out of airline stocks?
No, said Tim Seymour, managing partner of Triogem Asset Management. He said on CNBC's "Fast Money" the airlines have low valuations, have been great operators and will continue to benefit from low fuel costs. He likes American Airlines (AAL) - Get Report and Alaska Air Group (ALK) - Get Report .
Jon Najarian, co-founder of optionmonster.com and trademonster.com, agreed now is not the time to sell airline stocks. While a slightly deeper decline would be a nice buying opportunity, the significantly lower oil prices are like a "windfall" for many of these companies, he said.
However, Dan Nathan, co-founder and editor of riskreversal.com, argued a rebound in oil prices will hurt the airlines. Also, the companies that have international operations will continue to suffer if the U.S. dollar continues to rally. Instead, he finds FedEx (FDX) - Get Report more attractive on the long side.
Brian Kelly, founder of Brian Kelly Capital, was also concerned about the international exposure. The domestic flyers will also be hurt on margins and profit by rising oil prices while a fall in oil prices may signal a weak economy. He is not a buyer. Instead, he likes GoGo (GOGO) - Get Report on the long side.
Jim Suva, director of investment research at Citigroup, says shares of Apple can still climb, despite rallying 17% on the year and 71% in the past 12 months. He is bullish on the stock's valuation, the company's gross margins, enterprise opportunities and its Apple Pay and Passbook features.
Phone carriers have made it easy to switch plans and upgrade to new devices, too, which should help sales. Suva expects Apple to sell 216 million iPhones this year and seven million smart watch devices. Rather than building automobiles, he suggested Apple will try to improve the infotainment system in the car. He has a buy rating on the stock and $135 price target.
He added that International Business Machines (IBM) - Get Report still needs to prove itself but can generate growth. Suva pointed out the company has its analyst day on Thursday and there are hopes management will expand on the partnership it formed with Apple last June. He has a neutral rating on the stock with a $170 price target.
Shares of Apple seem likely to decline to $120, according to Nathan. The company's smart watch will not likely be as successful as many investors are anticipating. Seymour disagreed, arguing that given the stock's current valuation investors can stay long Apple. There's at least one more quarter of the iPhone upgrade cycle left, he added.
Another smartphone maker capturing the traders' attention is BlackBerry . Kelly, who is long the stock and call options, says he wants exposure to the company as the the stock seems likely to climb above $12. BlackBerry has potential with the car's infotainment system and in the enterprise market, he said.
Based on a sum-of-the-parts valuation, the stock is worth around $12.50 per share, Seymour added. Investors can buy the stock.
For their final trades, Nathan is buying Macy's (M) - Get Report and Seymour is a buyer of McDonald's (MCD) - Get Report . Kelly said to take profits in the Financial Select Sector SPDR ETF (XLF) - Get Report and Najarian is buying Simon Property Group (SPG) - Get Report .
-- Written by Bret Kenwell