How to play tech in a volatile market: Pro

Avoiding a tech wreck

The best way to play technology in this volatile market is by sticking to "evergreen" models, one market pro told CNBC on Monday.

That means names like Facebook, Apple and Microsoft, Larry Fishelson, CEO of Dynalink, said in an interview with "Closing Bell."

"I said last year [Facebook] is going to be at $100 by the end of the year. I still stick by that. I think after the earnings call, they're going to blow it out," he said.

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Fishelson also has a $120 price target on Apple not only because of great products, but because of enterprise, content and Apple Pay, he added. Additionally, he said Microsoft has a ton of cash and continues to go up.

An attendee is silhouetted against a Microsoft poster at the Microsoft Developers Build Conference in San Francisco, April 2, 2014.
David Paul Morris | Bloomberg | Getty Images

Tech companies are gearing up to release earnings, with Intel, Netflix, eBay and Google all reporting this week.

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While eBay recently reaffirmed guidance, headwinds from Europe could cause problems for big tech companies, RBC Capital Markets analyst Mark Mahaney said.

"This is a very large market for all major large-cap tech," Mahaney said. "Google, Priceline, Amazon, [and] eBay [are] all doing 30 percent-plus of their revenue and profits out of that region."

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RBC Capital Markets has reduced earnings estimates by 5 percent because of the stronger dollar, he noted.

"If the European markets really roll over hard and we go back into a recession there and we have a demand impact on these businesses, you'll see further cuts to estimates," Mahaney said. "We don't expect that to happen, but that's downside risk."