The "Fast Money" debated which legacy technology stocks are worth buying.
Intel dipped in after-hours trading on the heels of reporting disappointing revenue, following a 52-week intraday high earlier in the day. The VanEck Vectors Semiconductor ETF also hit a new 52-week intraday high on Wednesday.
Trader Tim Seymour said that investors should choose on a stock-by-stock basis. He said that "things might be getting a little ahead of themselves in this rally."
Trader Pete Najarian said that a number of companies in this sector are attractive because they have healthy dividend yields and growth trends on top of an attractive valuation.
Najarian said, in particular, investors are looking for growth this earnings season. He pointed to Microsoft, which gained 5 percent Wednesday after a strong earnings beat, helped by strong revenue growth for the company's key cloud product, Azure.
Trader Guy Adami said Qualcomm is a standout for him as the company posted a solid beat on both the top and bottom line.