I'm Melissa Lee, and this is Fast Money. Tonight's Trader lineup, Guy Adami, Tim Seymour, Karen Feinerman, and Pete Nogherry, and tonight on Fast, the Reddit Rebellion, GameStop, Blackberry, I-Robot, AMC, all blasting off as an army of retail traders take to Reddit and pile into these names. We'll break down what is fueling this frenzy straight ahead. Plus, we're getting ready for a huge slate of earnings. So that got us in the mood for a good old-fashioned game that traded or faded. Find out which names are traders are betting on his results roll in. And later, call it a burrito bowl. The big news out of Chipotle, that could be a total touchdown for investors. But we start off with a record rally for Apple. Shares heading an all-time high

ahead of its earnings report on Wednesday. The stock now up 80% in the past year. Do you buy this

ahead of the report? Tim, you're shaking your head. I barely got the question out of my mouth.

It was really more just the extraordinary move here, and there was a couple upgrades, and there's a sense here that actually sell-side consensus is light relative to the by-side, who's probably 10% higher, both on REVs and EPS.

The multiple on a forward 12- month is now 31 times.

And yet, look, I think there's a lot of levers for the company to poll here,

and I don't think they really care about pulling levers,

but their services revenue is really settled into this high teens growth rate.

The App Store apparently is going to do 20 billion calendar

fourth quarter, which is going to be up, you know, 45 percent or so. And so these are the drivers

to me. If you think that this has been a full transition to really a services-based earnings

profile, even though we know it's still about 5G and installed base, but that the market

is kind of de-risking the and smoothing out the story here. And I think that's where we are.

So I was shaking my head because it's just extraordinary. If, no, I'm not going to do this,

because it's not my place to play this game. I'll just say that I'm not running scared from Apple, but I don't think you have to buy it before earnings.

Yeah, Tim had mentioned how Wall Street, the South Side, is a little bit behind on this one.

Take a look at the average analyst price target in the stock.

It's $134 in change, and that is, of course, below, well below where we are right now, Guy Dami.

So does that mean that Apple could actually be okay into earnings because the expectations are not high enough?

Yeah, absolutely. And obviously, Pete can speak to this. And Tim and Karen have been on this for a long time.

Yeah, absolutely could beat. I mean, the first quarter can be funky for Apple. I mean, I think 10 out of last 15 first quarters, we've had EPS beat. So not like sort of the rest of the year. So it's a bit of a wild card. But with that said, Tim mentions valuation. The reason to own Apple for years was the valuation was too cheap.

Now you can make an argument that's maybe too expensive, but it probably can stay here for quite some time.

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