"I think you can start to look at a company when you've priced in an incredible amount of pain," he said.
IBM shares slipped more than 4 percent in extended trading Monday after the tech company beat Wall Street's profit expectations but fell short on revenue. The company touted its growth in key areas like cloud computing and analytics, but many investors failed to see enough progress in transitioning from its legacy business.
"I think the transition is in place," Seymour said, adding that the stock could move higher in the next six to nine months.
Apple reports its quarterly earnings Tuesday. Investors will look to see how the tech giant's key China business has endured market turmoil in the country.
"I think Apple's strength will come from China," said trader Pete Najarian, who owns the stock.
Apple is "setting up for the next leg higher," trader Guy Adami added. The stock rose nearly 2 percent Monday, closing just above $132 per share.
Seymour—who owns Yahoo—believes the stock is worth holding ahead of the spinoff later this year. Yahoo shares have fallen more than 20 percent this year.
Tim Seymour is long AAPL, T, BAC, C, DIS, F, GE, GM, GOOGL, INTC, JPM and SUNE. Tim's firm is long BABA, BIDU, MCD, NKE, NOK, SBUX and YHOO.
Long AMAT, AAPL, BAC, BMY, BP, CSX, DISCA, DKS, FOXA, GE, KKR, KO, LLY, MRK, PEP and PFE. He is long calls ABX, AGNC, AMKR, BAC, C, CRM, CY, DAL, ETFC, LC, LULU, LVS, OC, PNR, RF, UAL, USB, VZ, XLF and ZIOP. He is long puts OAS and RIG. Today, he bought AMKR calls, OAS puts and RIG puts.
Dan is long TJX Aug put, CMG July put spread, TWTR, TWTR Sept call spread, SO, LVS July Aug put spread, PG Aug put and COST Aug put spread. He is short SO Aug call. Today he sold to close CMG July put fly.
Guy Adami is long CELG, EXAS and INTC. Guy Adami's wife, Linda Snow, works at Merck.