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Despite Massive Gains, Stick with Tech High Fliers: Pros

Tuesday, 3 Apr 2012 | 12:44 PM ET

On Tuesday, tech landed on the Fast Money trader radar with investors talking about the big returns on 5 high fliers.

Although the tech sector is up about 20% year to date a handful of stocks have outperformed the sector is a big way.

Take a look:

2012 Returns
Netflix (NFLX) +64%
Salesforce.com (CRM) +55%
Priceline (PCLN) +54%
Apple (AAPL) +53%
Advanced Micro (AMD) +52%

How should you play these high fliers - stick with what's working or rotate into laggards?

Trader Simon Baker thinks the trade is to ‘stick with what’s working.’ “I wouldn’t fight the momentum,” he says, “Stay long. Continue with high momentum stocks that hit new highs.”

Apple Hype Out of Control?
The Fast Money Halftime traders break down the day's major tech headlines, including Barclays placing a downgrade on Netflix and a valuation of $1 trillion for Apple by 2014, with Colin Gillis, BGC Financial analyst.

The one exception is Netflix – “I’d be cautious of Netflix,” he says.

Pete Najarian shares the sentiment. He also likes betting on winners but would take profits in Netflix. "Netflix is a story that's very complex, but with content costs going up, I’d move on.

Looking at the list above, the Pit Boss also says, “I’d continue to hold Apple and buy options for upside – with the company’s growth and all the potential catalysts – I don’t understand why you’d fight it.”

If you’re looking for new ideas, trader Josh Brown says to check out NetApp and EMC as storage plays. “They’re not high fliers yet, but they could be,” he says.





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Trader disclosure: On April 3, 2012 , the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Pete Najarian is long AAPL CALLS; Pete Najarian is long AAPL; Pete Najarian is long BAC CALLS; Pete Najarian is long C ; Pete Najarian is long JPM CALLS; Pete Najarian is long MS; Pete Najarian is long C; Pete Najarian is long YHOO; Pete Najarian is long SBUX CALLS ; Pete Najarian is long COP ; Pete Najarian is long PEP; Simon Baker is long JPM; Simon Baker is long GDX; Simon Baker is long MS; Simon Baker is long GLD; Simon Baker is long XLU; Simon Baker is long XLF; Simon Baker is long IBM; Simon Baker is long WMT; Simon Baker is long JOY; Simon Baker is long GMCR; Simon Baker is long ADSK; Simon Baker is long FCX; Simon Baker is long DELL; Simon Baker is long IBM; Simon Baker is long NKE' Guy Adami is long C; Guy Adami is long GS; Guy Adami is long INTC; Guy Adami is long AGU; Guy Adami is long NUE; Guy Adami is long BTU; Guy Adami is long MSFT; Josh Brown is long AAPL; Josh Brown is long LULU; Josh Brown is long SIRI

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