Finally, a day on the market makes technology investors proud. On the heels of yesterday's technology selloff, Nasdaq stocks have seen a broad-based rally today.

Where to begin. Chip stocks, which declined sharply after

Intel's

(INTC) - Get Report

revenue warning last week, have witnessed a runup today. The

Philadelphia Stock Exchange Index

was recently ahead 4.3%.

Among the big winners were

KLA-Tencor

(KLAC) - Get Report

, up 9.2% to $44.63;

Altera

(ALTR) - Get Report

, up 5.7% to $50.88; and

Novellus Systems

(NVLS)

, up 8.6% to $49.63.

Shares of

Xilinx

(XLNX) - Get Report

rocketed 10%. This morning,

Chase H&Q

boosted its rating on the computer chipmaker to strong buy from buy. In its report, the firm said that it believes Xilinx will top forecasts of 15 percent quarter-over-quarter growth for the current period.

In the Net corner, shares of consumer stocks that fell in sympathy with

priceline.com's

(PCLN)

earnings confession yesterday have maintained gains posted earlier today. priceline, which lost a whopping 42.3% of its value yesterday, was up 11.1% to $11.94.

Meantime,

eBay

(EBAY) - Get Report

and

Amazon.com

(AMZN) - Get Report

were lately higher 8.5% and 5.3%.

Losing almost 12% of its value yesterday, amid the priceline.com selloff,

Yahoo!

(YHOO)

has recovered 5.8% to $95.56 today. This morning,

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Merrill Lynch's

Internet bull, Henry Blodget, reiterated his buy rating on the Web portal.

"We remain very confident that the company will meet or exceed our third-quarter estimate of revenues of $280 million. We do not think the company will miss the quarter," Blodget said.

Internet incubator

CMGI

(CMGI)

, down 12.5% yesterday, has erased its loss and was lately gaining 9.8%.

Even telecom-equipment names, downgraded this morning by

Sanford C. Bernstein

, have resisted negativity in afternoon trading. The

Nasdaq Telecommunications Index

was recently rising 3.3%.

This morning,

Sanford C. Bernstein

-- which does not underwrite stock and is valued for maintaining independence from companies -- cut its ratings on telecom equipment issues

Cisco

(CSCO) - Get Report

and

Nortel Networks

(NT)

to market perform from outperform.

In his research note, Bernstein's telecom equipment analyst, Paul Sagawa, said that he is concerned about a decrease in spending on telecommunications equipment. Expenditures are likely to show "sharp deceleration" from 28% in 2000 to 20% in 2001, Sagawa noted.

But not everyone on Wall Street was so worried. Merrill Lynch, this morning, came out in support of Cisco and Nortel, reiterating its buy ratings on both the companies, while acknowledging that the stocks could be weak for the next few weeks. Similarly,

Salomon Smith Barney

reiterated its buy rating on Cisco.

Cisco was recently up 3.1%, while Nortel had added 5.9%.

Telecommunications company

Applied Micro Circuits

(AMCC)

hit a 52-week high today and was boosting 4.4% to $211.69.

Fiber-optic plays -- which provide their equipment to the telcos -- however, were less than white-hot.

Shares of

Juniper Networks

(JNPR) - Get Report

and

Corning

(GLW) - Get Report

have all performed very well during the month of September.

Corning was down 1.9% to $304.38 while JDS Uniphase was lower 0.8% to $97.