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Despite Weak PC Sales, Microsoft is a Buy

If you’re a tech investor chances are you’re pretty excited about the week ahead. Three tech titans release quarterly results and what they say could move markets.

Take a look:
Wednesday: eBay
Thursday: Microsoft, Google

Ahead of those numbers the Fast traders along with Colin Gillis of BGC Partners parsed through expectations. Here’s how they suggest trading:

Microsoft

The gang is bullish. Gills says everyone knows the PC environment is weak both in the US and overseas but “that’s baked in.

If you’re a value investor, if you’re looking for a dividend, I think you want to own it. Get in, in front of the Windows 8 upgrade and the xBox sales in the December quarter should help offset PC weakness."

Trader Jon Najarian agrees. “I’m a buyer,” he adds, explaining that the options buying has been very bullish.

Trader Steve Grasso also likes Mr. Softy. “You get a dividend and if the market comes in, I think value investors won’t be able to pass it up.

Google

“Buy Google ahead of earnings,” says Gillis.

“The December quarter is one of Google’s strongest. I expect their cost for clicks will be up 6-7%. And I’d want to get it ahead of the Motorola deal closing. I’m looking for a pop when they report.”

Trader Patty Edward is less excited about Google due to her outlook on online advertising. “I had owned it but I took profits and right now I’m staying away.”

Ebay

Gillis likes this stock too, despite the recent management shift.

“John Donahoe, the CEO of eBay has come forward and said (despite Scott Thompson, the president of PayPal leaving for Yahoo!) the numbers for PayPal for the December quarter will be just fine.

Also Donahoe said he will become the acting president of Pay Pal. So to lose Scott Thompson – there are plenty of people to replace him. If you want exposure to e-commerce, eBay is the name.”

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NEW SLIDESHOW: The Biggest Momentum Stocks of 2011: Buy or Sell?

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Trader disclosure: On Jan. 13, 2012, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders: Najarian owns AAPL; Najarian owns BAC; Najarian owns GS; Najarian owns BCS; Najarian owns TXT; Najarian owns URBN; Najarian owns INTC; Najarian owns CMC; Najarian owns FSLR; Najarian owns WYNN; Najarian owns DHI; Najarian owns LEN; Najarian owns WLT; Grasso owns ASTM; Grasso owns AVAV; Grasso owns BA; Grasso owns D; Grasso owns LIT; Grasso owns MHY; Grasso owns PFE; Grasso owns PRST; Grasso owns S; Grasso owns WFT; Grasso owns XLU; Edwards is long PM; Weiss is long EUO; Weiss is short FXA;

Steve Grasso
Stuart Frankel & Co and it’s partners own CSCO
Stuart Frankel & Co and it’s partners own CUBA
Stuart Frankel & Co and it’s partners own GERN
Stuart Frankel & Co and it’s partners own HPQ
Stuart Frankel & Co and it’s partners own HSPO
Stuart Frankel & Co and it’s partners own MU
Stuart Frankel & Co and it’s partners own NYX
Stuart Frankel & Co and it’s partners own PRST
Stuart Frankel & Co and it’s partners own WFT
Stuart Frankel & Co and it’s partners own XRX

Patty Edwards
Trutina Financial is long PM
Trutina Financial is long C
Trutina Financial is long GLD
Trutina Financial is long MSFT
Trutina Financial is long INTC
Trutina Financial is long AMZN
Trutina Financial is long EBAY

Colin Gillis
Investment banking (next 3 months): BGC Financial LP and/or its affiliates, expect to receive, or intend to seek, compensation for investment banking services within the next three months from all of the companies referenced within this report.
Lead or Co-manager: BGC Financial LP and/or its affiliates, has not acted as lead or co-manager in a public offering of equity and/or debt securities for Google within the last 12 months. BGC Financial LP and/or its affiliates has not received compensation for investment banking services in the last 12 months from Google.
Investment banking (next 3 months): BGC Financial LP and/or its affiliates, expect to receive, or intend to seek, compensation for investment banking services within the next three months from all of the companies referenced within this report.
BGC Financial LP and/or its affiliates, has not acted as lead or co-manager in a public offering of equity and/or debt securities for eBay within the last 12 months. BGC Financial LP and/or its affiliates has not received compensation for investment banking services in the last 12 months from eBay.
Investment banking (next 3 months): BGC Financial LP and/or its affiliates, expect to receive, or intend to seek, compensation for investment banking services within the next three months from all of the companies referenced within this report.
Lead or Co-manager: BGC Financial LP and/or its affiliates, has not acted as lead or co-manager in a public offering of equity and/or debt securities for Microsoft within the last 12 months. BGC Financial LP and/or its affiliates has not received compensation for investment banking services in the last 12 months from Microsoft.

Dan Ives
FBR acts as a market maker or liquidity provider for the company's securities: NUAN.

Gerard Cassidy
A member company of RBC Capital Markets or one of its affiliates received compensation for investment banking services from JPMorgan Chase & Co. in the past 12 months
A member company of RBC Capital Markets or one of its affiliates managed or co-managed a public offering of securities for JPMorgan Chase & Co. in the past 12 months
RBC Capital Markets, LLC makes a market in the securities of JPMorgan Chase & Co. and may act as principal with regard to sales or purchases of this security
RBC Capital Markets is currently providing JPMorgan Chase & Co. with non-securities services
RBC Capital Markets has provided JPMorgan Chase & Co. with investment banking services in the past 12 months.
RBC Capital Markets has provided JPMorgan Chase & Co. with non-investment banking securities-related services in the past 12 months
RBC Capital Markets has provided JPMorgan Chase & Co. with non-securities services in the past 12 months
A member company of RBC Capital Markets or one of its affiliates received compensation for products or services other than investment banking services from JPMorgan Chase & Co. during the past 12 months. During this time, a member company of RBC Capital Markets or one of its affiliates provided non-investment banking securities-related services to JPMorgan Chase & Co
A member company of RBC Capital Markets or one of its affiliates received compensation for products or services other than investment banking services from JPMorgan Chase & Co. during the past 12 months. During this time, a member company of RBC Capital Markets or one of its affiliates provided non-securities services to JPMorgan Chase & Co..


CNBC.com with wires.