With the move, Google could put more emphasis on financial discipline and even issue a dividend in the future, said trader Pete Najarian. Before the move, Google had shown positive signs with developments in its Android smartphone platform and YouTube video service, trader Tim Seymour noted.
Other prominent technology companies saw big pops on Tuesday, as well. Twitter shares surged 6 percent on the day to close more than 43 percent higher on the year, above $51 per share.
Read MoreCramer: Twitter flied higher for the long haul
The social media company monetizes its product better than peer Facebook and currently trades at a better value, Seymour said. Facebook rose more than 1 percent on Tuesday, closing above $85 per share.
Najarian believes Facebook has room to run higher, while Adami would pick the stock over Twitter in the social media space.
Streaming video service Netflix also saw huge gains on Tuesday after an analyst at Cantor Fitzgerald raised his price target on the stock to $500 per share from $450. Netflix popped 3 percent on the news, closing 28 percent higher for the year, at around $438 per share.
Adami said he would take profits at that level, adding that the stock could trade down to $400 per share.
Tim Seymour is long T, BAC, C, DIS, XOM, F, GE, GM, GOOGL, INTC and SUNE. Tim's firm is long BABA, BIDU, MCD, NKE, NOK and SBUX.
Pete Najarian is long AMAT, AAPL, BABA, BAC, BMY, BP, CSX, DISCA, FOXA, GE, KKR, KO, LLY, MRK, PEP, PFE and SAP. He is long calls BK, CIEN, CNX, COP, EBAY, EXXI, F, FCX, FL, GE, GM, GT, JD, KFT, KO, LYB, NEE, PEP, RAD, TEVA, TWTR, UAL and UFS. Today, he bought EBAY calls, JD calls and TWTR calls.
Karen Finerman is long BABA, BAC, C, FINL, FL, GOOG, GOOGL, JPM, M and KORS. She is short DIA. Her firm is long AAPL, BAC, C, CMLS, DIS, FINL, FBT, FL, GOOG, GOOGL, IBB, JPM, M, KORS, PFE, XBI, SUNE and URI. Her firm is long calls URI. Her firm is short MAC, IWM, SPY and USO. Karen Finerman is on the board of GrafTech International.
Guy Adami is long CELG, EXAS and INTC. Guy Adami's wife, Linda Snow, works at Merck.