The tech sector is trading higher today, inline with gains in the broader market. Semiconductors are showing slight relative strength in the tech space with the Philly Semi Index trading 2.5% higher. MU (+5.6%) is a notable leader in that index. Among other major indices, the S&P 500 is trading 2.3% higher, while the NASDAQ is trading 2.2% higher. The QQQ is also trading 2.2% higher. Among tech bellwethers, AAPL (+3.1%) is showing notable strength.
In news, AAPL (+3.1%) announced iPhone 4S pre-orders top one mln in first 24 hours. Also, it was reported that Alibaba has talked with Temasek for YHOO (+3.5%) stake.
Among notable analyst upgrades this morning, MU (+5.6%) was upgraded to Buy at Citigroup. In downgrades, S (-5.6%) was downgraded at several firms including Deutsche Bank and Kaufman, SFSF (-1.2%) was downgraded to Market Perform at BMO Capital Markets, LOGI (+1.7%) was downgraded to Underperform at BofA/Merrill, and ACN (+0.4%) was downgraded to Neutral at Robert W. Baird.
No notable names in tech set to report results today after the close.






