Intel breaking out last week boosted the tech sector. An upgrade of Advanced Micro Devices helped today. PHLX Semiconductors is climbing. That spills over to KLA Tencor and Applied Materials. Ciena is up on a great talk by Verizon’s Ivan Seidenberg yesterday at the NXTcomm telecommunications industry trade show in Chicago.
“Tech is just roaring today,” Cramer said on Stop Trading!.
“There is a remarkable resurgence of IBM,” Cramer said. “They’ve been buying back stock hand over first, and that’s working.”