Trader Dan Nathan pointed to Amgen, the pharmaceutical stock that fell 17 percent in September alone. It closed Thursday around $140 per share, but if it nears $120 on lingering concerns about drug pricing, the stock "looks interesting," he said.
Qualcomm shares could also be a bargain as it has "so much bad news priced in," said trader Tim Seymour. The stock has fallen about 28 percent this year.
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Trader Guy Adami agreed, adding that it could get a potential boost from activist investors moving forward.
Trader Karen Finerman, meanwhile, upped her stake in struggling solar company SunEdison. The stock has fallen more than 60 percent this year.
Tim Seymour is long AAPL, BAC, CLF, DIS, F, FCX, GE, GM, GOOGL, INTC, JPM, KO, LGF, T, TWTR, Tim's firm is long BABA, BIDU, MCD, NKE, NOK, SBUX, YHOO.
Dan is long PYPL Oct call calendar, BA Oct put spread, INTC Oct put spread, QQQ Oct put spread, UAL Oct/Nov put spread, XLU call spread, TWTR, PG
Karen is long BAC, C, FINL, FL, GOOG, GOOGL, JPM, KORS, KORS call spreads, M, URI, she is short SPY, Her firm is long ANTM, AAPL, BAC, C, DIS, FINL, FL, GOOG, GOOGL, GPS, IBB, JPM, KORS, KORS call spreads, M, M calls, SUNE, URI, URI long puts, M call spreads, her firm is short IWM, SPY, MDY, USO, Karen Finerman is on the board of GrafTech International.
Guy Adami is long CELG, EXAS, INTC, Guy Adami's wife, Linda Snow, works at Merck.