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TheStreet Open House

'Fast Money' Recap: Technology Stocks in the Spotlight

NEW YORK (TheStreet) -- The S&P 500 fell 0.19% on Tuesday but CNBC's "Fast Money" trading panel was focused on all of the big news in the technology sector starting with Intel's (INTC) revenue and earnings beat. 

Dan Nathan, co-founder and editor of riskreversal.com, said Intel shares, which are up 25% in 2014, have climbed too much given that earnings and revenue are only expected to have single-digit growth. It seems to be "as good as it gets" for the stock, he added. 

Guy Adami, managing director of stockmonster.com, said when margins peak for Intel, the stock price tends to as well. He suggested taking profits. 

Steve Grasso, director of institutional sales at Stuart Frankel, argued that increased PC demand coupled with strong demand in chips, tablets and the cloud can continue to fuel shares of Intel higher. It's still a buy, he said. 

When it comes to valuation, many of these large-cap technology stocks look okay, according to Karen Finerman, president of Metropolitan Capital Advisors. They have strong balance sheets and good cash flow, she added.

Chris Rolland, semiconductor analyst at FBR Capital Markets, said Intel reported a very strong quarter and issued solid guidance. Gross margins increased and the stock is "incredibly reasonably valued" at current levels. He expects to see positive unit growth this year for PCs, which is a contrarian call compared to most analysts. He also likes Advanced Micro Devices (AMD), on which he has a $6 price target, but suggested that it has run too far too fast into its earnings report. 

Colin Gillis, senior technology analyst at BGC Financial, discussed Yahoo!'s (YHOO) earnings results. He has a hold rating on the stock with a $37 price target. 

The company just reported its lowest GAAP revenue since Marissa Mayer took over as CEO, he said. Yahoo! is still in "turnaround mode," and it could take years for it to be completed. The company plans on selling a smaller-than-expected portion of its stake in Alibaba when it goes public, and Yahoo! plans to use half of those proceeds to return cash to shareholders through dividends and/or share buybacks. However, the "core business is just not healthy," he concluded. 

Nathan said investors are likely to buy the weakness if shares of Yahoo! open lower Wednesday.

Apple (AAPL) and International Business Machine (IBM) announced an exclusive partnership focused on applications for businesses. 

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