Trading tech and biotech: 8 plays on 2 hot sectors

Trading tech & biotech: 8 plays on 2 hot sectors
Trading tech & biotech: 8 plays on 2 hot sectors   

Apple's steady climb offers opportunities to invest in companies that benefit from its success, said trader Pete Najarian.

"Look at companies like China Mobile and some of these others that are riding on the Apple wave right now. Put Cirrus Logic in, as well," Najarian said.

Read MoreApple's record close brings market cap to $775B

Apple closed at a market cap of nearly $775 billion on Monday, making it worth more than twice as much as any other U.S.-traded public company. China Mobile and Cirrus—which distribute and provide components for iPhones, respectively—will profit from the company's "driver," the iPhone 6, Najarian said.

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Trader Guy Adami felt that the continued expansion of Apple Pay could provide the "catalyst" to send the stock even higher.

Apple and other technology companies have helped push talk that the turn of the millennium tech stock bubble has returned. Biotechnology's surge has also brought it into bubble discussions.

Read MoreAnalysts: No tech bubble in sight

For instance, many biotech exchange-traded funds have outperformed in the last year. The First Trust NYSE Arca Biotechnology Index Fund and SPDR S&P Biotech ETF have climbed about 41 percent and 31 percent in that span, respectively.

The iShares Nasdaq Biotechnology ETF has jumped more than 25 percent in the last year.

Investors looking to profit from biotech could invest in those funds, trader Karen Finerman said. Trader Guy Adami felt Cempra had room to move higher.

Disclosures:

Pete Najarian

Pete Najarian is long AAPL, AMAT, BABA, BAC, BMY, BP, CSX, DISC, GE, JPM, KKR, KO, LLY, LOCO, MRK, PEP and PFE. He is long calls CAM, COP, DAL, GS, GT, IAG, ISIL, JNJ, JPM, KNDI, MCD, NEE, SPY, SYY, UAL, UFS, WMB, WFC, ZIOP. He is long puts BHP. Today, he bought WFC, ZIOP calls

Dan Nathan

Dan Nathan is long BBRY June call spread, DIS Feb 92.50/87.50 put spread, KO March put spread, M March call spread, MSFT March call spread, MU March 31/26 put spread, QQQ Feb 101/ 95 put spread, SHAK, XLF March put spread, XLU March 48/44 put spread, XRT March 90/85 put spread and YUM Feb 72.50/68 put spread. Today, he bought SHAK.

Karen Finerman

Karen Finerman is long BABA, BAC, C, FINL, FL, GOOG, GOOGL, JPM, M, MTW, KORS and SDRL. She is short DIA. Her firm is long AAPL, BAC, PLCE, C, CMLS, DIS, FBT, FINL, FL, GPS, GOOG, GOOGL, IBB, JPM, M, MTW, KORS, SDRL, SUNE, XBI. Her firm is long calls SDRL. Her firm is short IWM, SPY and USO. Karen Finerman is on the board of GrafTech International.

Guy Adami

Guy Adami is long CELG, EXAS and INTC. Guy Adami's wife, Linda Snow, works at Merck.