Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Semi Equipment Analysis -- Ignore unavailable to you. Want to Upgrade?

To: rlev who wrote (29296)	3/13/2006 10:57:46 AM
From: Donald Wennerstrom	Respond to of 95765

Tech stocks move higher early as Apple climbs on upgrade March 13, 2006 10:09:03 (ET) LOS ANGELES (MarketWatch) -- Apple Computer Inc.'s helped lead technology shares higher on Monday after an analyst upgraded the stock, saying new product innovations around the company's upcoming anniversary could provide a boost. On the downside, Advanced Micro Devices Inc.'s fell after an analyst downgraded shares of the No. 2 maker of computer chips to sell on expected pricing pressure. The technology-laden Nasdaq Composite Index (COMP.IDX) put on 16 points, or 0.7%, to 2,278 in early trading. The Philadelphia Semiconductor Index (SOX) gained 3.4 points, or 0.7%, to 505.7. Apple's stock (AAPL, Trade) rose after Citigroup analyst Richard Gardner upgraded the issue to buy from a prior hold. Apple, according to the analyst, could introduce a new PowerMac notebook, as well as an iBook version that uses chips from Intel Corp. (INTC, Trade) Apple celebrates its 30th anniversary in early April. Gardner maintained a 12-month stock price target of $82. Apple shares gained $2.69, or 4.3%, to $65.88. Meanwhile, AMD watched its stock sink $1.48, or 4%, to $35.15 as it came under pressure from a downgrade by a ThinkEquity Partners analyst. Eric Ross, the analyst, cut the issue to sell from a previous buy recommendation. AMD (AMD, Trade) will likely be affected by cuts to computer chip prices by larger rival Intel, which ceded some market share to AMD last year, according to the analyst. "This is tragic to us as we are big believers in AMD," Ross wrote in a note to clients. "However, near term, what we view as a devastating pricing environment will likely cut into AMD's share gains and/or profits." Intel's stock edged higher by 7 cents -- just over a third of a percent -- to $19.92. Among the sector's most active stocks in positive territory at last check were shares of JDS Uniphase Corp. (JDSU, Trade), Cisco Systems Inc. (CSCO, Trade) and Microsoft Corp. (MSFT, Trade) Active decliners included Sun Microsystems Inc.'s stock (SUNW, Trade).