Tuesday's Tech Winners & Losers

Updated from 1:47 p.m. EDT

Tech stocks were on the rise in a volatile overall market Tuesday, bolstered by solid runs by stalwarts Apple(AAPL Quote) and Garmin(GRMN Quote).

Apple shares climbed $5.35, or 4.4%, to $127.57 despite news that Viacom's(VIA Quote) MTV Networks and RealNetworks(RNWK Quote) were teaming to mount a challenge to the iPod maker's dominance in online music sales.

Garmin, the GPS navigation system maker, rose $4.77, or 4.9%, to $102.50.

The Nasdaq 100 index, which includes components Apple and Garmin, gained almost 18 points to about 1911.

Chipmaker LSI(LSI Quote) also was on the rise, after announcing Monday evening its intention to sell its mobility products business to Infineon Technologies(IFX Quote) for $450 million. In the same announcement, the company also announced a $500 million stock repurchase plan. LSI shares gained 44 cents, or 7.1%, to $6.62.

Despite the index's rise, several tech players were falling Tuesday.

India-based information technology firm Infosys(INFY Quote) sank 4.5% amid widening concern about the effect of the credit crisis on financial services companies -- some of the IT sector's primary clients. Infosys also announced it was opening its first Latin American subsidiary in Mexico. Shares fell $2.11 to $44.50.

Oplink Communications(OPLK Quote) fell 14.4% after the chipmaker disappointed analysts with its fiscal first-quarter guidance. The company expects to earn between 10 cents and 12 cents per diluted share. Analysts polled by Thomson Financial expect earnings of 26 cents a share. Shares closed down $2.21 to $13.09.

Retalix(RTLX Quote) plummeted 15.8% after the Israeli software maker reported mixed earnings results. The company reported a net loss of $1.8 million, or 9 cents a share, compared to $2.9 million, or 15 cents a share, in the year-ago period. The company reported revenue of $55.5 million, compared to $45.9 million last year. Analysts expected a loss of 10 cents a share on revenue of $54.5 million. Shares closed down $2.93 to $15.67.