Updated from 2:18 p.m. EST with new stock prices

Tech stocks bounced back Tuesday, with many of the sector's big names leading the way.

Graphics chip maker Nvidia ( NVDA) bounced back from its 10.3% Monday decline and rose 57 cents, or 2.1%, to $27.47 after the company introduced a new high-end graphics board aimed at digital content creators.

Apple ( AAPL) lost $6.39, or 3.6%, to $171.25 after the company announced an updated line of Mac Pro workstation and Xserve server products. Apple is also close to resolving its dispute with the European Commission over the pricing of iTunes, media reports said.

Leap Wireless ( LEAP) surged 6.1% a day after the company said it added 152,000 customers during the fourth quarter of 2007, bringing total customer additions during the year to 634,000. Customer churn for the fourth quarter was 4.2%, and Leap ended the year with 2.86 million customers. Shares were up $2.32 to $40.16.

Leap rival Metro PCS ( PCS) also gained $1.06, or 6.4%, to $17.53. The stock also was upgraded to buy from hold by an analyst at Soleil Securities. Leap's numbers suggest that that the slump in the subprime prepaid wireless segment has started to improve, which could bode well for Metro PCS too, said Soleil, which maintained its $26 price target on the stock.

VMware ( VMW) was up $1.51, or 2.1%, to $74.50. The company's software product won the 2008 technology of the year award from Infoworld magazine. Shares of EMC ( EMC), which holds an 86% stake in VMware, lost 1 cent, or 0.06%, to $16.03.

Microsoft ( MSFT) fell $1.16, or 3.4%, to $33.45 after the company said it will buy a Norwegian search engine developer, Fast Search & Transfer. Microsoft offered $1.2 billion for the company. The per-share offer for Fast Search represented a 42% premium to its Jan. 4 closing price.

Hard-drive maker Seagate ( STX) fell 3.7% after the stock was downgraded by a Caris analyst to average from above average. Shares of Seagate were off 86 cents to $22.17.