NEW YORK (TheStreet) -- Apple's (AAPL) - Get Apple Inc. (AAPL) Report impressive earnings results initially pushed up U.S. stocks on Wednesday -- until the Federal Reservereleased its FOMC minutes, which sent stocks lower and bonds higher. 

Facebook (FB) - Get Facebook, Inc. Class A Reportreported earnings after the close on Wednesday. Shares are up some 40% over the past 52 weeks, which made expectations relatively high, said Tim Seymour, managing partner of Triogem Asset Management, on CNBC's "Fast Money" TV show. 

Despite beating on top- and bottom-line estimates, shares of Facebook fell in after-hours trading. However, with the stock trading at 27 times 2016 earnings estimates, it's really not that expensive, Seymour argued. If he was forced to choose between buying and selling the stock, he would buy.

It was just a bad day to release any sort of news that wasn't perfect, said Karen Finerman, president of Metropolitan Capital Advisors. Investors are concerned about Facebook's spending because it isn't just for one quarter, it's for one year or longer. Facebook management said last quarter the company would be spending a lot of money throughout the next year, with operational spending increasing 50% to 70% year over year.

Pete Najarian, co-founder of optionmonster.com and trademonster.com, remains positive on Facebook, saying he expects shares to rally on the earnings. Mobile revenue were strong and now make up 69% of total revenue, he added. The company's monthly active users were also very impressive. Successful companies need to spend money in order to jump-start future growth. 

Facebook "has an unbelievable performance track record," according to Steve Grasso, director of institutional sales at Stuart Frankel. He is long the stock, as well as Twitter (TWTR) - Get Twitter, Inc. Report

Facebook now has three billion video views per day by its users, which is up from 1 billion video views per day just last quarter, pointed out Neil Doshi, managing director at CRT Capital Group. The increased video viewership will lead to increased ad revenue down the road. 

It was a "pretty good quarter," Doshi added. However, operating costs were a little higher than investors expected while operating margins were a little lower than expectations. Earnings per share likely only beat estimates because of a lower tax rate. But the company's 14% growth in monthly active users is "impressive," he said. Facebook is spending a lot in order to stay competitive with the likes of Apple, Google (GOOGL) - Get Alphabet Inc. Class A Report  and Amazon (AMZN) - Get Amazon.com, Inc. Report . He has a buy rating and $84 price target on the stock. 

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Qualcomm (QCOM) - Get QUALCOMM Incorporated Report  beat expectations on revenue and earnings in its fiscal first quarter. The company's second-quarter guidance came in near the top end of expectations but full-year earnings per share came in below Street expectations. 

Najarian said the 8% selloff after hours is overdone. The stock is a good buy near $70. Investors who bought at this level can add to their position if the stock trades near $65, he said. If shares were to open near this level on Thursday it would make new 52-week lows. 

Seymour agreed about the stock and said Qualcomm didn't hit investors with anything they didn't already know prior to this earnings release. 

But Grasso said the stock is a "no touch" near current levels. There wasn't additional bad news, true, but margins appear to be under pressure. The stock never really recovered from its previous earnings disappointment and may not this time either.

-- Written by Bret Kenwell

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This article is commentary by an independent contributor. At the time of publication, the author held TK positions in the stocks mentioned.