'Fast Money' Recap: Tech's Winning Hand

Shifting to the financials, Karen Finerman said the numbers from Wells Fargo (WFC) were not bad at all. She said the real question is its decision not to issue any additional equity. "That's the key," she said.

Terranova said he liked US Bancorp (USB) and Bank of America (BAC) more than Wells Fargo because they are struggling less with non-performing asset growth, which he said is in the teens.

Lee shifted to Yahoo!(YHOO) which was up in after-hours trading on a Wall Street Journal report that a search deal with Microsoft is imminent, perhaps as early as Thursday.

Terranova was adamant about the importance of the search deal for Microsoft, saying it will give them 30% market share in its battle with Google. Seymour disagreed, saying what's far more important for Microsoft is the rest of its business, including the launch of Windows 7, which is now pegged for Oct. 22, and the XBox.

Apple (AAPL)shares were up 3% today after nine brokerages raised their price targets for the stock. Finerman found it difficult to get excited with so many brokerages involved.

Grasso agreed but sees Apple as a long-term buy. "No will argue about that," he said.

In the "Bull Market or BS" segment, Danielle Park, president of Venable Park Investment Counsel president, took issue with commonly held notion that the emerging markets are the place to be.

She said it is a "fantasy" to believe that the rest of the world is doing better than the U.S., where the tech rally is leading the next cyclical expansion. She said Japan is in shambles and European banks are struggling with reckless lending. She sees the U.S. coming out of the recession, though it will hit a rough patch in the fall.