The index rose nearly 1 percent on the day, spurred by strong earnings. It closed at an all-time high for the second straight day.
Internet giant Google drove the Nasdaq surge, as both its Class A and Class C shares rose more than 16 percent on the back of a strong quarterly earnings report Thursday. Trader David Seaburg believes the stock will climb even higher.
Shares of social media company Facebook also boosted the Nasdaq, climbing more than 4 percent on Friday. The stock has now gained more than 21 percent this year.
Seaburg contended Facebook has more room to run ahead of its earnings later this month.
Apple added less to the tech rally than some of its peers, moving 0.9 percent higher on Friday to close just below $130 per share. Trader Guy Adami believes the stock will pop as the company prepares to report earnings on Tuesday.
"I do think it's going to make that next leg up to $145," he said.
Shares of tech giant Microsoft are barely positive this year amid sustained gloomy sentiment on personal computer sales. However, the company has established positive trends in enterprise computing and other businesses ahead of its quarterly results Tuesday, said trader Brian Kelly.
"Microsoft is the way to play this," he said.
IBM reports earnings Monday, and Kelly sees a good buying opportunity if it sells off. Shares have gone more than 7 percent higher this year.
Steve Grasso is long AAPL, BA, BAC, DD, DECK, EVGN, FIT, KBH, MJNA, PFE, PHM, T, TWTR and GDX. His firm is long AMZN, IBM, TWTR and AMD. His kids own EFG, EFA, EWJ, IJR and SPY.
Brian Kelly is long BBRY, BTC=; ITB, TAN, TLT and TSL. He is short yuan and yen. Today, he sold euro.
Guy Adami is long CELG, EXAS and INTC. Guy Adami's wife, Linda Snow, works at Merck.