Silicon Peaks & Valleys

Intel and other chip stocks surged Thursday on a Banc of America upgrade.

Is it time to start buying the semiconductors?

I think so, replies Guy Adami. Inventories are low. However, you have to be careful in this space. I like Intel best on a valuation basis, he says.

Not all the chip names will recover at the same time, adds Jeff Macke. Only look at best of breed.

Or you can buy the SPDR S&P Semiconductor , adds Jon Najarian. But Intel would probably be the better play.

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Trader disclosure: On Apr. 10, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Macke Owns (INTC), (MSFT), (YHOO), (EMC); Jon Najarian Owns (AAPL), (AG), (AGU), (AMGN), (AMR), (BG), (BHI), (C), (CCJ), (DD), (DE), (HON), (MLNM), (MON), (MOS), (TSO), (YHOO); Seymour Owns (AAPL), (CCJ), (CSCO), (F), (INTC), (MER), (MSFT), (SBUX), (TSO); Seygem Asset Management Owns (COP), (FMCN); Seygem Asset Management Owns Shares Of Uranium One; GE Is The Parent Company Of CNBC; NBC Universal Is The Parent Company Of CNBC