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'Fast Money' Recap: Opportunities in Technology

NEW YORK (TheStreet) -- After trading lower in the morning, the S&P 500 bounced back, closing Tuesday higher by 0.44%. 

On CNBC's "Fast Money" TV show, Guy Adami, managing director of stockmonster.com, said he would sell-short International Business Machine (IBM) ahead of earnings in April.  

Steve Grasso, director of institutional sales at Stuart Frankel, said Hewlett-Packard (HPQ) seems to have shaken its "old tech perception." He added the company continues to invest in emerging technology and he likes the stock. 

Tim Seymour, managing partner of Triogem Asset Management, said Qualcomm's (QCOM) best days are probably over. However, he added the company still has great technology, with a lot of opportunities -- especially in China. 

Brian Kelly, founder of Brian Kelly Capital, was a buyer of Cisco Systems (CSCO) for a plethora of reasons: a solid dividend, low valuation, turnaround story, and investors' rotation into old technology stocks. 

With the S&P 500 trading near record highs, Seymour said investors are putting money to work in old technology because the stocks have very low valuations.

Grasso said he expects shares of Intel (INTC) to continue doing well. He added that wearable technology will give both Intel and Qualcomm a boost. 

Jason Mackenzie, president of the Americas for HTC, was a guest on the show. Last year's HTC One smartphone was voted the world's best smartphone and he says the HTC One M8 -- the company's newest smartphone -- is even better. 

Despite the company losing market share to Samsung and Apple (AAPL), he is confident that quality products with the best technology will eventually win out. In order to combat high-end smartphone saturation, HTC is putting more focus into the mid-end smartphone market and on the pre-paid phone market, he concluded. 

Adami said investors can continue to trade Apple from the long side, with support near $525. He added that the stock "feels" like it wants to go higher. 

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