Pete Najarian Is Bullish On Microsoft, Could See It Go To $70

Pete Najarian shared with the viewers of CNBC's Fast Money his reasons to buy Microsoft Corporation MSFT.

He explained that the tech space has sold off after the presidential election and he thinks the selloff in Microsoft is an overreaction.

Najarian especially likes cloud segment revenue growth and margin expansion in Microsoft. He's also impressed by its cash position, which gives the company the ability to repurchase shares and pay a healthy dividend yield.

He bought the stock on Tuesday and he sold some calls against it. He believes it could trade higher to $65 or $70.