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Stocks That Stand Out Amid Tech Wreck: Pros

Wednesday, 17 Oct 2012 | 12:19 PM ET

Amid a lagging technology sector due in part to Intel and IBM weakness Wednesday, "Fast Money" pros still see opportunity.

OptionMonster.com's Pete Najarian said he expected better numbers from IBM quarterly earnings but noted that the company still showed strength in emerging countries.

"I still think this stock's going a lot higher, " he said on CNBC.

Stocks That Stand Out in Tech Wreck: Pros
"Fast Money" pros see opportunity in weak technology sector.

Even as he said he liked IBM around the $195 level, Joe Terranova said that he saw a clear winner in the PC vs. tablet battle.

"Going back to the semis, I think you divide the conversation between the PC and the tablet, " he said, adding that he owned SanDisk .

"I think you're going to get a very strong quarter out of SanDisk, " he said. "Don't be tied to the PC."

Josh Brown of Risk Reversal wasn't in love with the sector.

"Tech has been awful, " he said. "It's really just Apple and a handful of stocks.

"I think what's interesting about the tech sector is, going into this earnings season they actually were leading the league in negative preannouncements."

There was, however, a clear bright spot.

"Qualcomm is winning everything Intel is losing, " he said. "They can't both win. It's one taking share from the other."

Trader disclosure: On Oct. 17, 2012, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Joe Terranova is long CREE; Joe Terranova is long VRTS; Joe Terranova is long WFM; Joe Terranova is long SBUX; Joe Terranova is long NFLX; Joe Terranova is long SWN; Joe Terranova is long TRV; Joe Terranova is long VZ; Joe Terranova is long XOM; Joe Terranova is long CVX; Joe Terranova is long COP; Joe Terranova is long SU; Joe Terranova is long CSTR; Joe Terranova is long GS; Joe Terranova is long CHKP; Joe Terranova is long SNDK; Joe Terranova is long NXPI; Joe Terranova is long GLW; Joe Terranova is long EMC; Pete Najarian is long AAPL; Pete Najarian is long JPM CALLS; Pete Najarian is long WFC CALLS; Pete Najarian is long SBUX; Pete Najarian is long FB; Pete Najarian is long MSFT; Steve Grasso is long ACI; Steve Grasso is long AET; Steve Grasso is long ASTM; Steve Grasso is long AUO; Steve Grasso is long BA; Steve Grasso is long BTU; Steve Grasso is long CLD; Steve Grasso is long CLF; Steve Grasso is long F; Steve Grasso is long LF; Steve Grasso is long LNG; Steve Grasso is long MHY; Steve Grasso is long P; Steve Grasso is long NVIV; Steve Grasso is long PFE; Steve Grasso is long S; Steve Grasso is long WYNN; Josh Brown is long AAPL; Josh Brown is long QCOM; Josh Brown is long IBM.

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