Amazon shares traded above $950 in after-hours trading after the company reported an earnings beat after the bell.
Alphabet shares traded around $929 in extended trading, after the company beat analyst expectations as well.
Trader Tim Seymour said Alphabet's stock price is where it should be because of the company's large size. He said the Google-parent is recording impressive numbers across its business metrics and its core search business continues to improve.
Trader Dan Nathan said he likes Alphabet, because of the tech names massive growth and its significant investments in itself, which shows confidence its own business.
Trader David Seaburg said Alphabet is worth the high price as well. He also said Amazon and Facebook as other companies to buy into in the technology space, possible as alternatives. He said he favors Amazon over the Alphabet because of its European antitrust issues and he likes Amazon's platform and its investment strategy.
Tim Seymour is long ABX, AAPL, APC, AVP, BAC, BBRY, C, CLF, CVX, DO, DVYE, EDC, EWN, EWZ, F, FB, FCX, FXI, GM, GOOGL, GE, INTC, LQD, MOS, MCD, MUR, OIH, PG, RACE, RAI, RH, RL, SINA, SQ,T, TWTR, VALE, VZ, XOM. short: EEM, SPY, XRT;
Tim's firm is long ABX, BABA, BIDU, CBD, CLF, EEM, EWZ, F, KO, MCD, MPEL, NKE, PEP, PF, TCEHY, SAVE, SBUX, SINA, VALE, VIAB, WMT, WEN, X, YHOO, short EWG, HYG, IWM
Carter Worth: No disclosures.
"Opinions expressed by David Seaburg are solely his own and do not reflect the views and opinions of Cowen Group, Inc. David Seaburg and Cowen have a financial interest in EDIT. Diamond Offshore: an employee of Cowen and Company, LLC serves on the Board of Directors of Diamond Offshore"
Dan Nathan is long GE, SPY May put spread, XLV long June put, XLI long June put spread, XRT long June put