NEW YORK (TheStreet) -- The Nasdaq hit its highest point in 14 1/2 years Tuesday, with the index up 0.67%. Investors who want to continue to seeing gains can stay long Qualcomm (QCOM) and Palo Alto Networks (PANW) , Guy Adami, managing director of stockmonster.com, said on CNBC's "Fast Money."
Qualcomm seems likely to climb back to $77, said Dan Nathan, co-founder and editor of riskreversal.com. He also likes Alibaba (BABA) on the long side, if the stock pulls back another 5% or so.
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Steve Grasso, director of institutional sales at Stuart Frankel, disagreed. He likes Yahoo! and said the stock can climb to $55 or even $60 per share as long as $50 acts as support. Stay long Apple (AAPL) , too, he said.
Ambarella (AMBA) shares made an all-time high on Tuesday. Brad Erickson, research analyst at Pacific Crest, boosted his price target on the stock to $55 while maintaining an outperform rating.
Ambarella is a supplier for GoPro (GPRO) and GoPro is having great success with its action camera product leading into the holiday season, Erickson said. Ambarella also has other revenue streams from drones and security cameras, he added, which should help the company should GoPro demand suddenly slow.
Seymour acknowledged that shares of GoPro have traded well since the IPO. However, the stock is completely overvalued near current levels. Nathan agreed.
Two other companies expected to do well this holiday season are Under Armour (UA) and Nike (NKE) . Seymour says investors can buy both but his top pick is Nike, as is Grasso's. Under Armour has better price action, according to Nathan. However, he does find Nike's valuation more attractive. Adami agreed.
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