The Dow hit its highest close since June, 2008, Thursday after a steep slide on Monday, helped along by blowout earnings from Apple.
United Technologies was the best performer on the Dow this week, rising nearly 4.5 percent, while Apple was the best performer on the S&P 500 for the week, rising more than 7 percent.
"It was the turnaround in technology itself," Joe Terranova said.
How should you trade it?
Terranova said the other names to look at in the tech sector are EMC, Oracle, Juniper, Broadcom, Qualcomm and Akamai.
But before you jump in with both feet, Tim Seymour offered some warning, saying earnings are very good, but the market still hasn't broken out of a range it's been trapped in for a long time.
"If the dollar rallies here, it doesn't matter that earnings are going to be stronger, I think we're going to have trouble breaking 1,335," he said.
Brian Kelley likes the cloud computing sector.
"You have to be in that cloud space, that's where things are expanding," Kelley said. "We saw that Apple is selling all kinds of machines. That's driving the new technology."
Kelley said he has purchased Juniper, BCSI and Riverbed Technology.
Seymour said Microsoft is also worth watching closely as they near earnings.
Watch the video for more tech picks: