Technology Sector Up Today, PC Stocks In The Lead

The technology sector is in the black today, with computer-manufacturers leading the gains. The largest electronics retailer in the US, Best Buy Company Inc BBY, reported mixed results today, which pointed towards an improvement in the sales of products like notebook PCs. Ahead of the opening bell, BBY announced that its Q1 profits and sales missed Wall Street view. Shares of BBY plummeted 6.55% to $38.36 by 12:50 pm. According to the company, it saw strength in notebook PCs, which is positive news for computer makers like Dell Inc DELL, Apple Inc AAPL and Hewlett-Packard Company HPQ. By 12:50 pm, shares of DELL rallied 4.43%, AAPL climbed 1.44% and HPQ shares rose 0.64%. The latest version of Apple’s Mac mini desktop PC was launched today. The new model, which has a more sleek design and added features, is priced at $699 and above. The Nasdaq Composite Index climbed 1.7%, or 38.09 points, to 2282, by 12:50 pm today. The Philadelphia Semiconductor Index (SOX) rose 3.88%, while the Morgan Stanley High Tech 35 Index (MSH) inched up 2.11%. The tech sector’s other top performers include Intel Corp INTC, which jumped 2.06%, Micron Technology Inc MU, which rallied 5.95%, Google Inc GOOG, which advanced 2.19%, Cisco Systems Inc CSCO, which gained 1.57%, Microsoft Corp MSFT, which surged 3.43% and Advanced Micro Devices Inc AMD, which climbed 4.47%, by 12:50 pm. Read more from Benzinga's Markets.