Pete Najarian: ‘Stay away from Apple’

“Forget the ‘fascination’ with buying the bottom in Apple stock, OptionMonster’s Pete Najarian said Friday,” Bruno J. Navarro reports for CNBC. “‘Everybody’s had this fascination that they want to buy the bottom in Apple,’ he said. ‘That’s not necessarily how you should be approaching this right now. ‘On CNBC’s ‘Fast Money,’ he said that there were other stocks with more potential.”

“While Najarian said that he expected Apple to post a positive quarterly earnings report next week, it was not enough to get him into the trade,” Navarro reports. “‘I think their earnings are going to be extremely strong, but then what?’ he said. ‘I think you’ve got to look a little further out and say, ‘This is going to be a second-half-of-the-year story for Apple.'”

Read more and watch the video in the full article here.

[Thanks to MacDailyNews Reader “Lynn Weiler” for the heads up.]

41 Comments

  1. So success quarter after quarter after quarter after quarter and still caution that they “might” fail? I suppose if you wait long enough but why isn’t every company treated like this since every company inevitably WILL fail at some point? It’s no wonder people are timid when it comes to buying stock with the anal-yst naysayers and naysaying is an easy stance to take. Meanwhile nobody makes money.

    1. Hear, hear.

      You’ve got people just going out of their way to try to scare investors off from buying Apple stock and products. Honestly, what company is a guaranteed sure thing in the future. Any company “might” fail. I’m sure there ARE other stocks with more growth potential. At any given moment, I don’t doubt it. However, potential does not guarantee success, at least over the long-term. These people must only be after instant gratification in a few months. I suppose that why it’s called “Fast Money”.

      However, why doesn’t he just tell people the stocks to buy instead of telling them not to buy Apple. That would make more sense. It’s bad enough to hear “What have you done for me lately?” but with Apple, it’s getting to be, “What are you going to do for me in the far future?”

      “If Apple has a blowout quarter, then what?” What sort of a jackass question is that? Isn’t that a question that could fit mostly any company. Each quarter any company has to work to hold or gain market share or revenue or whatever it takes. There’s far too much negativity leveled at Apple on a daily basis. If a company isn’t doing well, it will just fail on its own without needing any help from outsiders.

      1. LB48, Pete says both black and white in the article.

        He says don’t trade (buy or sell) just hold. So he is saying not to speculate, just hold what you got causing its going up. But if its going up, isn’t now the time to buy?????

        He is covering his game by saying both in the same statement. IF Apple crashes, he predicted it… If Apple grows, then he said to hold you investment. Standard BS… Make a noisy statement so you get heard then put a cover piece in there to cover your exposed a**. More ANAL….yst BS.

    2. Apple needs to be below $500 on Friday in order for a bunch of brokerage houses who sold CALL options last January at strike prices of $500 and above NOT to go broke.

    3. Does this words ring any bells? STOCK MANIPULATION.
      You see company after company posting mediocre results and failing products (Surface?) and even that, they predict glory days ahead of them.
      But Apple is posting better and better results and every product they make is a hit, but they still saying to be cautious, that is because they want the stock to drop severely so they can buy it cheap.
      I wonder where the SEC is when those so called “analyst” do they stuff.

  2. This sort of mindset is exactly what sentiment has plagued apple stock since I can remember. If they do well don’t buy. If they do a little less well don’t buy. It is just more anti apple crap and not very objective.

  3. It worries me a little that this negativity filters down to the buying public. All they see is negative shit.
    APPL needs a battalion of astro turfers to combat this. The paranoid half of me thinks that Goog-Sung has hundreds or thousands of folks workin shifts to shift opinion.
    On bad days by rational half is inclined to agree. :-(. It’s just too consistent to be random.

    1. ALL of the Apple Bears are wrong, obviously and deliberately. We’re going to watch the repercussions of their evil play out in 2013. Nothing new here for long-time Apple fanatics.

      What do we call this? A Negative Universe Bubble? It pops and AAPL’s value skyrockets back to actual value. The stock manipulating AnalCysts have a party. 😛

  4. I agree with his advice: y’all go look elsewhere (while I buy cheap AAPL)… Come back in the second half when the pice climbs (so I can sell my cheap shares to you at a higher price).

  5. Instead buy something like Amazon — the perfect model reborn of the dotcom era where stock price had absolutely nothing to do with profit or ratios or any of those fundamentals – the declaration of a new economy where none of that old fuddy duddy stuff mattered.

  6. I find it amazing that AAPL finished today at exactly $500 a share. Talk about perfect control of price by big WallStreet firms & Hedgies to inflict maximum pain on AAPL Stock option buyers

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