Ahead of Apple’s expected announcement of the iPad 3 , the “ Fast Money ” traders shared a few second-derivative ways to play the space.
Pete Najarian of OptionMonster.com liked OmniVision Technologies, an image-sensor company that already exists within Apple’s ecosystem.
Najarian noted that Robert W. Baird raised its price target to $23 per share from $19.
“There are multiple different directions that you can go, but that’s the direction I would go,” he said Tuesday.
NEW SLIDESHOW: Top Apple-Related Stocks for 2012
Apple announced an event in San Francisco to take place Wednesday with an invitation that read, “We have something you really need to see. And touch.”
Industry watchers expect Apple to unveil a new iPad with a larger screen, faster processor and a better camera, perhaps even calling it the iPad HD.
OptionMonster.com cofounder Jon Najarian liked NXP Semiconductors.
Already among the Apple suppliers list, the company developed near-field communications, which enabled mobile payments.
“I think Apple is going to embrace that with the next generation, probably the iPhone 5,” Najarian said.
Patty Edwards of Trutina Financial liked the broadband names, particularly AT&T.
“We know they’re selling a lot of the tablets, a lot of the phones,” she said.
Plus, as mobile service providers “throttle back” on data usage, users will use more wi-fi, “so I think you’re going to get a little bit of a pop there,” Edwards said. “Plus, you’re getting a dividend with AT&T.”
Simon Baker or Baker Street Asset Management opted for a low-tech name: Zagg.
The maker of covers for the iPad 2, Zagg saw its stock decline 28 percent after Apple announced it would produce its own. But it rebounded 60 percent afterward.
“It’s a good low-tech trade,” he said.
______________________________________________________Got something to to say? Email email@example.com and your comment might be posted on the Rapid Recap. If you'd prefer to make a comment, but not have it published online, email firstname.lastname@example.org .
Trader disclosure: On March 6, 2012, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders: P. Najarian is long AAPL; P. Najarian is long C; P. Najarian is long INTC; P. Najarian is long YHOO; P. Najarian is long COP; P. Najarian is long WLT; J. Najarian is long IBM call spreads; J. Najarian is long QCOM call spreads; J. Najarian is long GDX call spreads; J. Najarian is long GDXJ call spreads; J. Najarian is long CRM call spreads; J. Najarian is long FIO call spreads; J. Najarian is long KERX call spreads; Baker is long QCOM; Baker is long GLD; Baker is long SLV; Baker is long MU; Kilburg is long 10yr; Kilburg is long TLT; Kilburg is long GLD; Kilburg is long SPXU; Karabell is long VALE
For Patty Edwards Trutina Financial is long COST
Trutina Financial is long AAPL
Trutina Financial is long JNK
Trutina Financial is long INTC
Trutina Financial is long QCOM
Trutina Financial is long HLF
Trutina Financial is long WLT
For John Blackledge I, John Blackledge, certify that (1) the views expressed in this report accurately reflect my personal views about all of the subject companies and securities and (2) no part of my compensation was, is or will be directly or indirectly related to the specific recommendations or views expressed in this report.
For Paul Forward CONSOL Energy Inc. is provided with investment banking services by Stifel, Nicolaus & Company, Inc. or was provided with investment banking services by Stifel Nicolaus or an affiliate within the past 12 months.
CONSOL Energy Inc. is provided with non-securities related services by Stifel, Nicolaus & Company, Inc. or an affiliate or was provided with non-securities related services by Stifel Nicolaus or an affiliate within the past 12 months.
Stifel, Nicolaus & Company, Inc or an affiliate has received compensation for investment banking services from CONSOL Energy Inc. in the past 12 months.
Stifel, Nicolaus & Company, Inc. expects to receive or intends to seek compensation for investment banking services from CONSOL Energy Inc. in the next 3 months.
Stifel, Nicolaus & Company, Inc. makes a market in the securities of CONSOL Energy Inc..