Intel (INTC) - Get Report, shrugging off an EPS estimates cut by Merrill Lynch this morning, was up 3.1% as it unveiled its new line of workstation processors.

The chipmaker said it expected the first computers equipped with the new chips to be on the market in the second half of 2001.

The

Semiconductor Index

(SOX)

was up 4.7%.

In addition to Intel, leaders in the afternoon tech rally were

Sun Microsystems

(SUNW) - Get Report

, up 12.5%, and network equipment maker

Cisco

(CSCO) - Get Report

, up 9.2%.