Last night's post-market earnings announcements lit a firecracker under the tech sector and ignited the semiconductor stocks along the way. The
Philadelphia Stock Exchange Semiconductor Index
shot up 6.1% today, while the
Dow Jones U.S. Semiconductor Index
climbed 6.3% gain.
The chipmakers may have been caught up in the joy following
raised revenue guidance and the fact that both
beat analysts' bottom-line expectations by a penny.
Advanced Micro Devices
, which is due to report second-quarter earnings after the bell today, was climbing 8.7% to $22.96 recently.
Applied Micro Circuits
tried to keep pace, posting a gain of 8.5% to $15.86.
was adding 9.5% to $27.95 recently, but was off its earlier highs.
But the highest-flyer was
, which was rising 17.5% today to $18.95. Call option activity surrounding the stock was strong today, implying the possibility of a big move in the stock price.
was up 7.8% to $32.42,
was rising 5.8% to $29.68, and
was higher by 6.1% to $40.70.