Socially acceptable: 5 Internet stocks to buy
Looking ahead to the social media and Internet sectors in the second half of the year, some CNBC "Fast Money" traders believe LinkedIn (NYSE: LNKD) shows potential.
"It's going to be volatile; it'll be worthwhile," said trader Josh Brown on Wednesday.
Shares of the professional social network have fallen 9 percent this year and concerns linger about its valuation at around $208 per share. Brown called it "the most defensible" social media stock, saying it has become vital for job seekers.
Adami agreed, adding that the stock holds value because it is "very difficult to be replicated."
Trader Guy Adami believes shares of social media company Twitter (NYSE: TWTR) have upside amid leadership changes and takeover speculation. The stock dropped 2 percent Wednesday to close above $35 per share.
Investors should stay long in the stock with $35 as a stop, Adami said.
Shares of Twitter's rival Facebook (NASDAQ: FB) have climbed 11 percent this year. The company's ad strategies and roughly 1.4 billion users give it momentum moving forward, said trader Tim Seymour.
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"No one can touch their scale," he said.
eBay
eBay (NASDAQ: EBAY)-owned PayPal will buy international money-transfer company Xoom (NASDAQ: XOOM) for $25 per share, the companies said Wednesday. The move comes just before eBay spins off PayPal as an independent public company later this month.
Brown-who has a long stake in eBay-said the acquisition gives eBay more momentum ahead of the spinoff.
Read More Xoom spikes 25% on PayPal takeover
Microsoft
Trader Brian Kelly picked software giant Microsoft (NASDAQ: MSFT) as an upside technology play moving forward. He especially liked its price, as it closed Wednesday above $44 per share.
Disclosures:
Tim Seymour
Tim Seymour is long AAPL, ASHR, T, BAC, C, DIS, F, GE, GM, GOOGL, INTC, JPM and SUNE. Tim's firm is long BABA, BIDU, MCD, NKE, NOK, SBUX, SINA and YHOO.
Josh Brown
Long AAPL, DE, DNKN, EBAY, FSLR, JMBA, SAM, SHAK, SPWR, TNET, TWTR, XLE and XON.
Brian Kelly
Brian Kelly is long BBRY, BTC=; TAN and TSL. He is short euro, yuan and yen.
Guy Adami
Guy Adami is long CELG, EXAS and INTC. Guy Adami's wife, Linda Snow, works at Merck.
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