NEW YORK (TheStreet) -- The S&P 500 slid Thursday but Nike (NKE) - Get Reportbeat on earnings per share and revenue expectations and future orders are impressive, pushing the stock up nearly 4% in late trading. 

Tim Seymour, managing partner of Triogem Asset Management, said when he first invested in Nike a few years ago the valuation was much lower. However, investors who are long should stick with Nike since the company continues to deliver, he said on CNBC's "Fast Money" TV show. 

The stock just a hit a 15-year high in valuation, added Dan Nathan, co-founder and editor of Now might be a good time to start thinking about taking some profits. Nike's success with women's apparel could ultimately come at the expense of Lululemon Athletica (LULU) - Get Report

It could also hurt Gap's (GPS) - Get Report Athleta brand as well, said Brian Kelly, founder of Brian Kelly Capital. "I don't think you have to go out and buy Nike tomorrow," he added, saying he likes Under Armour (UA) - Get Report more. 

Guy Adami, managing director of, said there is concern about valuation when it comes to Nike. However, the company's pricing power is strong and gross margins continue to expand. As a result, investors should stay long Nike. 

Corinna Freedman, senior vice president at BB&T Capital Markets, says there's nothing concerning in Nike's recent report. However, she prefers Under Armour over Nike because it has more growth. In any regard, the secular trend in athletics is clear, something that should benefit Fitbit (FIT) - Get Report as well. 

Micron (MU) - Get Report also reported earnings but the stock dropped 12% after the company provided fourth-quarter revenue guidance of $3.5 billion to $3.7 billion. Analysts were looking for roughly $4.2 billion. 

That's "really awful" guidance, Adami said. Investors should wait for the stock to decline to $20. If the stock stays above that level, then investors can buy the stock. 

Despite most of the chip space being under pressure, investors can buy Intel (INTC) - Get Report, which has a compelling valuation and diversified businesses, Seymour said. Nathan disagreed, saying Intel is likely headed to $30. 

Guidance was "exceptionally weak" for Micron, said Alex Gauna, managing director and director of research at JMP Securities. Management did not sound optimistic, but the stock is beginning to look really attractive near current levels. In the second half of 2015, there are several catalysts, including mobile and 3D NAND orders that could give the stock a boost. Gauna has an outperform rating and $40 price target on Micron. 

Health care stocks surged on Thursday after the U.S. Supreme Court has upheld the subsidies for the Affordable Care Act in states where the federal government is running health insurance exchanges. 

Shares of Tenet Healthcare (THC) - Get Report climbed 12.25%, HCA Holdings (HCA) - Get Report jumped 8.8% and Community Health Systems (CYH) - Get Report rallied 12%. Investors can buy hospital stocks now that this potential headwind has been removed, Seymour said. He likes HCA Holdings the most and said consolidation in the industry seems likely.

It's hard to buy these stocks after such a big, one-day rally, Kelly said. But on a pullback, investors should consider buying a basket of these stocks. 

For their final trades, Seymour is buying Nike and Nathan is selling Intel. Adami is a buyer of Humana (HUM) - Get Report and Kelly is a seller of the Energy Select Sector SPDR ETF (XLE) - Get Report.

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This article is commentary by an independent contributor. At the time of publication, the author held no positions in the stocks mentioned.