×

6 trades on mixed technology earnings

After a mixed bag for technology earnings, "Fast Money" traders projected more divergence in some big names moving forward.

Apple

Apple shares have been sluggish since the tech giant posted quarterly profit that beat consensus estimates but still disappointed Wall Street earlier this month. Investors may want to think about "taking a pause" as the stock could be stuck in a rut, said trader Guy Adami.

Read MoreWhich would you rather own: Germany's DAX or Apple?

Apple closed Thursday down 0.5 percent, around $122 per share.

An Apple store in New York.
Mike Segar | Reuters
An Apple store in New York.

Facebook

Shares of social media giant Facebook fell nearly 2 percent Thursday despite the company posting earnings and revenue that topped analysts' expectations the day before. Adami believes the stock will push higher despite the brief selling.

Trader Steve Grasso agreed, adding that he may buy into Facebook while selling his stake in Twitter. The smaller social network was battered on Wednesday after executives warned about long-term user growth sluggishness, but gained back nearly 1 percent on Thursday.

Read MoreFacebook sellers misunderstand this: Munster

Facebook and Twitter closed Thursday at about $95 and $31 per share, respectively.

Microsoft

Software giant Microsoft's stock rose more than 1 percent Thursday, a day after it released its Windows 10 operating system. It closed at nearly $47 per share.

"On a risk-reward basis, you can buy it here on a breakthrough," said trader Brian Kelly.

Qualcomm

Shares of battered Qualcomm have fallen more than 13 percent year-to-date. The company has also warned on profit three times this year.

Still, expectations have fallen low enough to make a trade on the long side, Adami said. Qualcomm closed nearly 2 percent higher, above $64 per share, on Thursday.

Disclosures:

Steve Grasso

Steve Grasso is long AAPL, BA, BAC, DD, DECK, EVGN, FIT, KBH, MJNA, PFE, PHM, T, TWTR, GDX firm is short QQQ, SPY, DIA his kids own EFG, EFA, EWJ, IJR, SPY

Brian Kelly

Brian Kelly is long BBRY, BTC=; ITB, TAN, TLT, TSL, US dollar; he is short Oil, Ruble, Yuan and Yen.

Karen Finerman

Karen is long BABA, BAC, C, FINL, FL, GILD, GOOG, GOOGL, JPM, KORS, M, BABA puts, she is short SPY, Her firm is long ANTM, AAPL, BAC, C, DIS, FBT, FINL, FL, GOOG, GOOGL, GPS, IBB, JPM, KORS, M, SUNE, URI, XBI, KORS call spreads, SUNE call spreads, KORS puts, her firm is short IWM, SPY, MDY, Karen Finerman is on the board of GrafTech International.

Guy Adami

Guy Adami is long CELG, EXAS, INTC, Guy Adami's wife, Linda Snow, works at Merck.