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Intel Defies Tech Slide, Edges Up

Author:

Intel

(INTC) - Get Intel Corporation (INTC) Report

was up 1.5% at mid-morning -- the only major semiconductor stock to move higher -- after

Credit Suisse First Boston

reiterated its strong buy and said recent weakness was overdone. Other techs sagged as profit taking replaced yesterday's rally.

Micron Technology

(MU) - Get Micron Technology, Inc. (MU) Report

, a big winner among the chipmakers Tuesday, was off 2.2%. The

Semiconductor Index

TheStreet Recommends

, or

SOX

, was down 1.8%. Other major tech stocks trading lower included

Cisco Systems

(CSCO) - Get Cisco Systems, Inc. Report

, down 0.6%, and

Hewlett-Packard

(HWP)

, off 3.8%.