NEW YORK (TheStreet) -- The S&P 500 started the week higher, closing up 0.48% Monday.
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 stockmonster.com, 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 - Get Report) 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.
Finerman is not a buyer of eBay or Sotheby's (BID).
Grasso said it's a very "positive time for Tesla" as it continues to increase production.
Grasso said the U.S. needs corporate tax reform if the government wants to stop U.S. corporations from performing tax-friendly, inverted mergers -- which is when a company becomes incorporated in a different country with more favorable taxes. Finerman agreed.
Seymour says Mylan's (MYL - Get Report) acquisition of Abbott Labs' (ABT - Get Report) assets is not only good for its tax rate via the inverted merger but the assets will also be accretive to its earnings. Adami agreed with Seymour and is a buyer near current levels.
Grasso said investors are likely to rotate out of refining stocks and into oil and gas service stocks such as Schlumberger (SLB - Get Report) and Baker Hughes (BHI). Seymour said investors can buy Valero Energy (VLO - Get Report) if it can find support from its 200-day simple moving average.
Dennis Gartman, editor and publisher of The Gartman Letter, said gold is not a "safety trade" despite it commonly being labeled as such. Much like other commodities, gold prices are beginning to fall. It should find support near $1,300 per ounce, he suggested. He is long gold, but in foreign currency terms. He will become more bullish following a breakout over about $1,360 per ounce.
Seymour said gold was overbought and that's why it fell 2% on Monday. The yellow metal is in a "classic bear market rally," he said, which can be very dangerous. Adami wants to see how gold will trade in the event that it falls another $30 to $40 per ounce.
Glu Mobile (GLUU - Get Report) climbed 6% and was the first stock on the show's "Pops & Drops" segment. Finerman said, "I can hardly take this seriously" before attributing the rise in stock price to the company's new Kim Kardashian game.
LinkedIn (LNKD) popped 2%. Seymour said the company's acquisition of Newsle is "interesting."
GT Advanced Technologies (GTAT) fell 5%. Grasso said investors who plan to sell the stock short should not hold the position very long because it has a very large short interest.
Eric Jackson, managing director and founder of Ironfire Capital and a Street.com columnist, said the Alibaba initial public offering could happen as soon as Aug. 8. Currently, the company values itself at $130 billion but that figure could quickly climb to $150 billion based on investors' appetite, he suggested. After the IPO, there is also likely to be another "bump" higher in valuation, he argued.
This bodes well for Yahoo! (YHOO), which is undervalued given its 22.6% stake in Alibaba. The company's core business is being valued as worthless, but Jackson argued it deserves a better valuation given its profitability. The big question remains: What will CEO Marissa Mayer do with the Alibaba proceeds? He suggested that as much as half could go toward buying back shares.
Grasso said he still holds a small long position in Yahoo! but admitted the stock does not trade well.
Finerman is long SoftBank as her play on Alibaba. Adami is a buyer of Yahoo!.
For their final trades, Seymour is a seller of Intel (INTC - Get Report) and Grasso is buying Apple. Adami said to buy Wolverine World Wide (WWW - Get Report) and Finerman is buying Cumulus Media (CMLS - Get Report).
-- Written by Bret Kenwell in Petoskey, Mich.