Apple, Microsoft, KLA-Tencor lead techs up
SAN FRANCISCO (MarketWatch) — The tech sector was off to a solid start on Friday, buoyed by solid gains from shares of Apple Inc., Microsoft Corp and chipmakers. Microsoft Corp. recovered from a wobbly start, and was last trading up nearly 1% to .84 a day after posting mostly in-line results. Apple also recovered from losses since its earnings report, gaining 1% to 5.01, even after Goldman Sachs cut its price target by 0. The chip sector also was in rally mode with the Philadelphia Semiconductor Index gaining nearly 2%, as KLA-Tencor saw its stock soar more than 10% after the semiconductor equipment company posted results that beat expectations. The Nasdaq Composite Index rose 16 points, or 0.5%, to stand at 3,146.
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