Shares of Microsoft could continue to rise after CEO Steve Ballmer announced his impending departure, Mike Murphy of Rosecliff Capital said Friday.
"We sold the stock today on this news. I don't think it's worth 8 or 9 or 10 percent pop. I think you have to let it settle in," he said. "If you've been long this name from the low $30s or under, this is a great opportunity to get out, step back. I think there's potential for Microsoft to move a lot higher here because I do think they are doing right things inside."
Ballmer took the technology world by surprise with his announcement that he would step down from the CEO spot within the next 12 years.
(Read more: Microsoft CEO Ballmer to step down within 12 months)
On CNBC's "Fast Money," OptionMonster's Jon Najarian said that he believed in the long-term prospects for Microsoft.
"They're moving in a lot of the right directions," he said, noting the recent potential partnership between the National Football League and Google.
(Read more: Google's NFL play could bring big changes)
"Microsoft certainly has to be considered one of those that could be involved in entertainment beyond the Xbox, which is how, by the way, how a lot of people do consume a lot of the online entertainment," he said.
Najarian also noted that on the announcement, Ballmer made a paper profit of nearly $1 billion on his 330 million shares of Microsoft.
TheStreet CIO Stephanie Link saw serious challenges for the company.
(Read more: Stick with stocks through taper: Strategist)
"The stock is down 39 percent since Ballmer took over," she said. "That tells you everything you need to know. But they're not in mobile, really. They're not really in cloud, or they're late to the picture in cloud. Social? I don't even know where they are in social.
"Enterprise, certainly, he's done a good job. That's about 87 percent of total profits, but they really have to take this to the next step, and this is what Ballmer has not been able to do."
Link said that it wasn't time to chase the stock.
"You have time for this," she added. "You've got a year between now and when Ballmer actually steps down officially."
Trader disclosure: On Aug. 23, 2013, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Stephanie Link is long AAPL; Stephanie Link is long GS; Stephanie Link is long JPM; Stephanie Link is long WFC; Stephanie Link is long CSCO; Stephanie Link is long FB; Stephanie Link is long EBAY; Stephanie Link is long GPS; Stephanie Link is long F; Michael Murphy is long BAC; Michael Murphy is long C; Michael Murphy is long FB; Michael Murphy is long F; Jon Najarian is long AAPL; Jon Najarian is long GLD; Jon Najarian is long JPM; Jon Najarian is long MSFT; Jon Najarian is long TSLA; Jon Najarian is long EXPE; Jon Najarian is long QCOM; Erin Gibbs is long AAPL; Erin Gibbs is long MSFT; Erin Gibbs is long M; Erin Gibbs is long GPS.