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Updated from 11:27 a.m. EDT
Chip stocks were leading the tech sector higher Monday, with Intel(INTC Quote) and Advanced Micro Devices(AMD Quote) among the biggest gainers, with the Nasdaq up 1.84% and the Dow up 2.12%.
Intel shares were recently rising 5.1% to $16.62 after Morgan Stanley upgraded the stock from equal weight to overweight. Analysts there said the stock looks attractively valued based on EV/sales and said consensus earnings estimates look too low. UBS, meanwhile, boosted its target for Intel to $18, based on the expectation that gross margins will improve dramatically in the second quarter. The firm has a buy rating on the stock.
Elsewhere in the sector: ...
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