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Trader Pete Najarian says this is the tech giant to buy

Forget the FANG stocks — one "Fast Money" trader believes that investors' tech dreams can be found with Microsoft.

Microsoft shares dropped 2 percent since last Tuesday's election, making the company one of the tech giants that seemed to have no place in the so-called Trump rally propelled by financials, consumer discretionary and energy stocks. Despite the weakness, "Fast Money" trader Pete Najarian gave three reasons why he thinks Microsoft is still a buy.

On Tuesday's "Fast Money," Najarian made Microsoft his "Fast Pitch" play, emphasizing that compared with other mega-cap tech stocks, Microsoft actually fared better following the election. Tech titans Facebook and Amazon, for example, are both down 5 percent from last Tuesday, even though the tech sector reversed some of its losses in Tuesday and Wednesday trading this week. This makes Microsoft's 2 percent drop less severe, relatively speaking, and therefore Najarian believes that like other tech stocks, Microsoft's drop was due to overreaction about Trump's victory.

But Microsoft's cloud component is another huge sell to Najarian, who believes that cloud will be the key to Microsoft's success. In July following its earnings report, Microsoft reported that its cloud segment, which includes the Azure platform, grew 7 percent to be worth $6.7 billion.

"They're not only getting into the cloud, but they're making it a huge aspect of the Microsoft world," said Najarian.

Finally, Najarian believes that the company's fundamental structure allows Microsoft to be worth the buy.

"You got more than $137 billion in this company," said Najarian. "You've got a company that's giving you incredible yield and share repurchase. When you combine all of that with the growth, I think right now this is a great buy in the $58 area."

Microsoft is currently up almost 7 percent year to date, breaking out most recently at the end of October following its big earnings beat.