Big technology earnings have failed to stir up much optimism among "Fast Money" traders.

Amazon missed Wall Street's top and bottom line expectations Thursday, sending its shares more than 10 percent lower in after-hours trading. The results came only two days after Apple disappointed analysts on iPhone sales and guidance.

"In general, the picture we're getting from earnings season is a slowdown, and then looking forward doesn't look so good either," said trader Brian Kelly, who highlighted Apple's guidance and Amazon's high spending.

Facebook, though, served as the brightest tech story, in Kelly's mind. The social media giant easily topped Wall Street's expectations Wednesday, showing growth in total and mobile advertising sales. He believes that tech investors should tilt toward what drove Facebook, including services and ad spending.

Trader Karen Finerman called Amazon a "great company," adding that its report did not hold that much bad news. However, after the stock soared more than 100 percent in the last year, its valuation looks "unsustainable," she said.

"The bar is high already, and I think it's still in crazy land. It's still a crazy valuation here," she said.

Microsoft also posted results Thursday, and its shares rose more than 3 percent as it beat expectations on top and bottom lines. It hovered around $54 per share in after-hours trading.

While he said he would not "chase" the stock at its current price, Kelly said it should stabilize or grind higher if it holds above $50. Trader Steve Grasso, though, contended that shareholders would begin to sell Microsoft if it does not rise above $54 per share in the coming sessions.

Disclosures:

Steve Grasso

Steve is Long AAPL, AEO, BA, BAC, CC, DD, DIS, DECK, EVGN, KBH, MJNA, MU, OLN, PFE, PHM, T, TWTR, GDX firm is long CXO, OXY, BP, CVX, RIG, AMZN kids own EFA, EFG, EWJ, IJR, SPY

Brian Kelly

Brian Kelly is long BBRY, Bitcoin, GDX, GLD, SLV, TLT, US Dollar; he is short Aussie Dollar, British Pound, CS, DB, EWH, Hong Kong Dollar, UBS, SPY, Yuan.

Karen Finerman

Karen is long BAC, C, FL, GOOG, GOOGL, JPM, LYV, KORS, M, SEDG, SPY calls, URI, she is short SPY. Her firm is long ANTM, AAPL, BAC, C, C calls, FINL, FL, GOOG, GOOGL, JPM, KORS, LYV, M, MOH, NRF, PLCE, URI, her firm is short IWM, MDY, SPY. Karen Finerman is on the board of GrafTech International

Guy Adami

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