By Rex Crum, MarketWatch
SAN FRANCISCO (MarketWatch) -- Gains from Internet stocks led a
broad rally across the tech sector Wednesday, with Facebook Inc.
putting in its best day in months and other Internet leaders
getting a boost following an upbeat assessment from J.P. Morgan
analyst Doug Anmuth.
In a research note, Anmuth said there are "attractive
opportunities" among Internet stocks after a recent selloff in the
sector that shaved almost 20% from Facebook's (FB) shares and
nearly 30% off Pandora Media Inc. (P) since those stocks hit
year-to-date highs in early March.
On Wednesday, Facebook rose 7.3% to close at $62.41 as the
social-networking leader had its best day of gains since Jan.
30.
Among other stocks that Anmuth mentioned, Pandora (P) rose 5.3%
to $29.77 a share, online travel agency Priceline.com Inc. (PCLN)
climbed almost 4% to $1.234.63 and Netflix Inc. (NFLX) added 1.2%
to end the day at $353.03.
Tech bellwethers also had generally good day, as Apple Inc.
(AAPL), Microsoft Corp. (MSFT), Oracle Corp. (ORCL), IBM Corp.
(IBM), LinkedIn Corp. (LNKD) and Yahoo Inc. (YHOO) all
advanced.
The Nasdaq Composite Index (RIXF) flexed its muscles and rose
almost 71 points, or 1.7%, to close at 4.183.136 and the
Philadelphia Semiconductor Index (SOX) also rose 1% on the day.
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