Tech was the best performing sector Tuesday, led by the PHLX Semiconductor Index (SOX), up 1.9%. Texas Instruments (NYSE:TXN) led the charge with a 4% gain even though its mid-quarter update was largely met expectations. It appears that just the idea of stabilization in the business was enough to boost the stock.
Elsewhere in the technology space, cloud names such as Citrix (NASDAQ:CTXS) was up 4.8% and Salesforce.com (NYSE:CRM) gained 4.2%, and both led software higher. Apple (NASDAQ:AAPL) jumped 2.2%, finally showing a green day after falling 9% last week.
I just recommended a new chip name to my Trader’s Advantage members, but the space is so appealing that I’ve got another name on my watch list: Lattice Semiconductor (NASDAQ:LSCC) is another chipmaker that merits a close look. I’m not quite ready to buy this one yet after two big up days, but after some consolidation it should be good to go back to the $6.50 area.
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