The S&P 500 ETF (SPY) - Get Report is off its highs, but as of Friday was still up 1.1%. The PowerShares QQQ ETF (QQQ) - Get Report is also performing well on Friday, up 2.8%, driven by strong gains from Amazon (AMZN) - Get Report , Alphabet (GOOGL) - Get Report and Microsoft (MSFT) - Get Report

This ending up being a "monster week" for tech stocks, Josh Brown, CEO and co-founder of Ritholtz Wealth Management, said on CNBC's "Fast Money Halftime" show. Alphabet reported strong earnings and shares are now up almost 40% on the year, despite a flat S&P 500, while Amazon is up a whopping 94%, he added. 

Gene Munster, senior analyst at Piper Jaffray, raised his price target on Amazon to $800 from $650 following the company's earnings results. Today, 9% of commerce is done online, but over the long term, that's likely to swell to 30%, he asserted. With unit volume growth of 26% vastly outpacing eBay's (EBAY) - Get Report growth of just 6%, it's clear that Amazon remains the market leader and continues to take market share. 

It also helps to see Amazon's Web Services grow so rapidly, with revenue up 78%. That growth rate is likely to slow going forward, but will still be around 45%, Munster said. As the secular shift to online shopping continues, Amazon should continue to benefit, he concluded. 

Another big performer has been Netflix (NFLX) - Get Report , which is up 105% on the year. Stephen Weiss, founder and managing partner of Short Hills Capital Partners, bought the stock for a trade, as it will likely go higher if the Nasdaq continues to rally. 

More broadly speaking though, China, the European Central Bank and now possibly Japan are all maintaining loose monetary policy standards, Weiss said. As the central banks continue to ease, investors have to be long stocks, even if there are some headwinds.

Some of those headwinds are coming from emerging markets, Federal Reserve uncertainty and continuous global devaluation, said Rich Saperstein, CIO of HighTower Treasury Partners and one of Barron's top 100 financial advisors.

That being said, he continues to like tech stocks, along with consumer discretionary stocks and homebuilders -- sectors that can be invested in via the Consumer Discretionary Select Sector SPDR ETF (XLY) - Get Report and the iShares U.S. Home Construction ETF (ITB) - Get Report . Saperstein made the case that U.S. consumers will continue to benefit from low energy prices and an improving labor market as household debt levels fall to 35 year lows. 

The continuing strength of the U.S. dollar should also benefit U.S. consumers, even if it hurts profits for U.S.-based multinationals, added Michael Block, chief strategist at Rhino Trading Partners. While sentiment for tech stocks is encouraging, Block finds it concerning that the health care sector -- a leader for a long stretch of the bull market -- continues to underperform the broader market. 

Weiss countered that it's actually a good thing to see the market trading well, despite the health care sector lagging badly.

Jon Najarian, co-founder of Optionmonster.com and Trademonster.com, said he likes tech stocks right now, but pointed out that companies like Foot Locker (FL) - Get Report and Nike (NKE) - Get Report were selling off due to the earnings results from Under Armour (UA) - Get Report and Sketchers USA (SKX) - Get Report

Leon Cooperman, one of the most well-respected investors in finance, recently told Weiss that stocks still have upside from current levels. If he's finding value in stocks at today's prices, that's worth paying attention to, Weiss added.