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Slow and Steady Microsoft Could Print $30: Adami

After parsing through the latest results from Microsoft , top trader Guy Adami thinks the stock could march up to $30.

“It’s been a slow and steady producer and I still like it. I wouldn’t rush in tomorrow, but I think it prints $30," he says.

Trader Pete Najarian agrees with the trade. “I wouldn’t add here due to the after hours pop – but I think there’s plenty of upside in Microsoft,” he says.

Trader Joe Terranova says watch $29.46 the 52-week high. “Above that level we could be looking at a technical break out.” And that would be a very bullish technical signal.

Even though the software giant said on Thursday quarterly profit fell slightly due to lower computer sales the Fast pros were bullish -- ouraged by other metrics.

For example sales rose 5 percent to $20.9 billion, helped by Microsoft Office and Xbox businesses.

“The company’s results also showed its server and tool business was growing, too,” adds Sunit Gogia, an equity analyst at Morningstar in a Reuters interview.

Looking at the numbers more closely, the world's largest software company reported net profit of $6.624 billion, or 78 cents per share, compared with $6.634 billion, or 77 cents per share, in the year-ago quarter.

The per share figure rose as Microsoft had fewer shares outstanding in the most recent quarter. It beat Wall Street's average forecast of 76 cents.

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Trader disclosure: On Jan. 19, 2012, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders: Terranova is long VRTS; Terranova is long IBM; Terranova is long LQD; Terranova is long SU; Terranova is long SJM; Terranova is long JNPR; Terranova is long SBUX; Terranova is long DECK; Terranova is long WFM; Terranova is long OXY; Terranova is long TRLG; Terranova is long CSCO; Terranova is long BRCM; Terranova is long MUB; Terranova is long EMC; Terranova is long AXP; Terranova is long NFLX; Terranova is long F; Terranova is long APC; Terranova is long XOM; Terranova is long STT; P. Najarian is long AAPL; P. Najarian is long BAC calls; P. Najarian is long C; P. Najarian is long INTC; P. Najarian is long YHOO; P. Najarian is long MSFT; P. Najarian is long GE; Seymour is long AAPL; Seymour is long BAC; Seymour is long MSFT;
Adami owns C; Adami owns GS; Adami owns INTC; Adami owns AGU; Adami owns MSFT; J. Najarian owns AAPL; J. Najarian owns AKS; J. Najarian owns GS; J. Najarian owns NFLX; J. Najarian owns CDR; J. Najarian owns JNPR; J. Najarian owns EBAY; J. Najarian owns MSFT; J. Najarian owns KBH; J. Najarian owns XHB; J. Najarian is long INTC calls; J. Najarian is long GOOG calls and puts

For Mike Khouw
No disclosures

For Brian Marshall
No disclosures

For Greg Abella
No disclosures

For Dan Berenbaum (NS)
INTEL (INTC): The Primary Analyst also certifies that there has not been, is not, and will not be direct or indirect compensation from MKM Partners LLC or the subject company(ies) related to the specific recommendations or views in this report.

For Jason Helfstein
Oppenheimer & Co. Inc. makes a market in the securities of GOOG.

CNBC.com with wires.

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