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TECH STOCKS: Apple, H-P, RIM Headline Tech Gains

By Benjamin Pimentel, MarketWatch SAN FRANCISCO (MarketWatch) -- Technology stocks were mostly on the rise in afternoon trading Wednesday, with gains coming from Apple Inc., Advanced Micro Devices, Hewlett-Packard Co. and Research In Motion. Apple (AAPL) shares rose $1.75 to $374.28 a day after the launch of its new iPhone 4S in the prior session failed to create a buzz and on news that Samsung was seeking to ban the product in France and Italy. AMD (AMD) inched up 8 cents a share to $4.80, but remained on edge after Bernstein Research downgraded the stock to market perform. Last month, the chip company cut its sales forecast citing "manufacturing issues" at GlobalFoundries, the company spun off from its manufacturing operations. "It is now increasingly clear that even AMD has no visibility into the likely yield trajectory at GlobalFoundries, and potential upside is likely to be limited," Stacy Rasgon, an analyst at Bernstein Research, said in a note. "No short term catalysts exist now given management credibility is shot and we believe shares could trade lower." The sector also got a lift from SanDisk Corp. (SNDK), which rose 5%, and Juniper Networks (JNPR) also gained more than 6%. H-P (HPQ) added more than 4% but the beleaguered technology giant took a hit from a J.P. Morgan note resuming coverage with an underweight rating. "History is not on H-P's side," analyst Mark Moskowitz said in a note. "We think the 'value status' of H-P's stock, given the historical low price-to-earnings multiple, is not an attractive one for investors." Research In Motion (RIMM) soared more than 13% on yet more buyout talk, this time involving Vodafone. Vodafone (VOD) shares were mostly flat. The Nasdaq Composite Index (RIXF) climbed almost 24 points to 2,428, while the Morgan Stanley High Tech 35 Index (MSH) and the Philadelphia Semiconductor Index (SOX) were each up more than 1.5%.

Stock News for Sandisk (SNDK)
DateTimeHeadline
09/25/201416:44:12TECH STOCKS: Apple Losses Stand Out As Tech Stocks Slump
07/17/201417:40:28MARKET SNAPSHOT: U.S. Stocks Sell Off After Malaysia Airlines...
07/17/201414:10:16MARKET SNAPSHOT: Malaysia Airlines Crash In Ukraine Rocks Stocks
07/17/201412:25:58MARKET SNAPSHOT: U.S. Stocks Slip As Ukraine Worries Weigh
07/17/201410:35:00MARKET SNAPSHOT: U.S. Stocks Stabilize; Microsoft Rallies On...
07/17/201410:33:20MARKET SNAPSHOT: U.S. Stocks Fall; Microsoft Rallies On Jobs...
07/17/201409:48:31MARKET SNAPSHOT: U.S. Stocks Open Lower; Dow Retreats From Record
07/17/201409:21:50MARKET SNAPSHOT: U.S. Stocks: Futures Fall; Economic Data Mixed
07/17/201408:31:50MARKET SNAPSHOT: U.S. Stocks: Futures Fall As Russia-Ukraine...
07/17/201407:10:13MARKET SNAPSHOT: U.S. Stocks: Futures Dip With Morgan Stanley...
07/17/201401:43:53TECH STOCKS: Intel Rises, Yahoo Falls After Earnings Results
07/13/201406:18:25MARKET SNAPSHOT: Tech, Bank Earnings To Test Economic Recovery
06/16/201416:52:09MARKET SNAPSHOT: U.S. Stocks Inch Up; Iraq Concerns Weigh
06/16/201416:35:31TECH STOCKS: Yahoo Slumps While Most Tech Stocks Rally
06/16/201411:29:03TECH STOCKS: Yahoo, Fusion-io Spearhead Tech Activity
06/16/201411:20:49MARKET SNAPSHOT: U.S. Stocks Inch Higher After Upbeat Data
06/16/201409:37:19U.S. Hot Stocks: Hot Stocks to Watch
05/16/201411:39:46TECH STOCKS: Applied Materials, Rackspace Are Notable Tech Gainers
04/17/201417:12:18TECH STOCKS: SanDisk, Weibo Gains Pace Tech Stocks
04/17/201411:10:53TECH STOCKS: IBM Losses Can't Hold Back Tech Gains

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