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Buy NFLX, AAPL on Monday's skid: Traders

Investors waiting to jump into Netflix shares may have just gotten their chance, trader Guy Adami contended Monday.

The stock fell nearly 7 percent on Monday, a day when U.S. stocks shed more than 3.5 percent. Netflix has enjoyed a dizzying run up of more than 98 percent this year, leaving many potential buyers fearing the valuation.

"To me, against $95 per share this is as good as it gets," Adami said.

Netflix
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Apple—another technology darling—dipped 2.5 percent on Monday, bringing its losses this year to more than 6 percent. At about $103 per share, Apple looks like a strong play on valuation, said trader Tim Seymour, who owns the stock.

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Trader Steve Grasso agreed, saying the stock was "definitely a buy" at that price.

Acorda Therapeutics skidded 3 percent in Monday's session. The stock, though, spiked 30 percent in extended trading on news that two patent challenges to one of its drugs were denied.

Adami believes investors should hold on to Acorda, as it could reach $40 per share in the coming days. Shares closed at about $29 Monday.

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Disclosures:

Tim Seymour

Tim Seymour is long AAPL, T, BAC, DIS, F, GE, GM, GOOGL, INTC, JPM, Tim's firm is long BABA, BIDU, MCD, NKE, NOK, SBUX, YHOO.

Steve Grasso

Grasso is long AAPL, BA, BAC, CC, DD, DIS, DECK, EVGN, FIT, KBH, MJNA, MU, PFE, PHM, T, TWTR, GDX. His kids are long EFA, EFG, EWJ, IJR, SPY. His firm and some of its partners are long DVN, BP, COP, CVX, FCX, NE, NEM, OXY, RIG, VALE

Guy Adami

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