Trader Guy Adami said Intel slightly lowered its gross margins guidance, which he found "potentially concerning."
Trader Pete Najarian said he would be a buyer of Intel shares, as the stock fell more than 5 percent in extended trading on Tuesday.
Trader Brian Kelly said he's concerned about Nvidia (NVDA), another semiconductor stock, and would be taking profits off the table in the company. He also said he would buy Intel.
Long stock: AAPL, BAC, DIS, DISCA, GE, KMI, KMIA, KO, LUX, MRK, PEP, PFE CALLS: AAL, ABT, AMD, ATVI, BABA, BAC, BBY, BHI, BSX, CNX, COP, COTY, CRM, CS, CSCO, CXW, DAL, DISH, ECA, ETP, GM, GS, HAL, INTC, JBLU, JCP, KBE, KGC, KMI, KO, LLY, LOW, M, MOS, MRO, MRVL, MUR, NAV, NBR, P, RIO, SBUX, SLV, TMUS, TTS, TV, TWTR, VRX, WFT, WLL, XLF and puts: CLF, EEM, MBLY, WFC
Tim Seymour is long ABX, APC, AVP, BAC, BBRY, CLF, DO, DVYE, EDC, EWZ, F, FB, FCX, FXI, GM, GOOGL, GE, INTC, LQD,MCD, MUR, OIH, PG, RACE, RAI, RH, RL, SINA, T, TWTR, VALE, VZ, XOM short: SPY, XRT. His firm is long ABX, BABA, BIDU, CBD, CLF, EWZ, F, KO, MCD, MPEL, NKE, PEP, PF, SAVE, SBUX, SINA, VALE, VIAB, WMT, WEN, X, YHOO, short EWG, HYG, IWM
Brian Kelly is long Bitcoin, SLV and Silver Futures, US Dollar UUP. He is short the euro and Japanese yen.
Guy Adami is long CELG, EXAS, GDX, INTC. Adami's wife, Linda Snow, works at Merck.
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