Buying Amazon.com stock on a pullback remains the right move as it has over the past five years, Stuart Frankel's Steve Grasso said Thursday.
"Every dip you see on this chart has been bought. It's been the right thing to do. I still think it's the right thing to do," he said. "Coming out of earnings, it doesn't matter."
Shares of Amazon closed at $303.40, up 1.49 percent, but sold off in after-hours trading.
(Read more: Amazon posts quarterly loss; Shares dip)
On CNBC's "Fast Money," Grasso said that if shares of Amazon had been priced as a value stock, it would be a "sell."
"It's still priced as a growth stock," he said. "It's tech stock. It's a retail stock. It's a cloud play."
StockMonster's Guy Adami said that he was positive on the stock — but not buyer at this level.
"If it was about earnings with Amazon, the stock should be trading $150," he said. "I think that's fair to say."
Adami noted that there was more to Amazon than the most recent quarterly results.
(Read more: Pro sees 'massive' opportunity for Facebook)
"These earnings were not good, and their guidance was worse," he said. "But my premise all along with these guys have been: As long as their operating margins continue to improve, I think this stock is worth owning because I'm telling you right now, given this report this stock should be trading $280, and it's not, which I think is trying to tell you something.
"Operating margins continue to improve, I think you continue to own this stock."
Josh Brown of Fusion Analytics said that the was investors value Amazon has benefited the company.