By Rex Crum, MarketWatch
SAN FRANCISCO (MarketWatch) -- Tech stocks ended up finding just enough momentum Wednesday, with several leaders rising in late action and giving the overall sector a lift at the market close.
The Nasdaq Composite Index (RIXF) edged up 1 point to 2,668. The Philadelphia Semiconductor Index (SOX) and the Morgan Stanley High Tech 35 Index (MSH) both slipped into the red.
Investors had a hesitant reaction after the latest estimate of growth in U.S. gross domestic product was revised higher, though by not as much as many economists had expected.
Among leading tech stocks, gains came from Apple Inc. (AAPL), Dell Inc. (DELL), Microsoft Corp. (MSFT) and IBM Corp. (IBM)
Xilinx Corp. (XLNX) came back from earlier falling more than 6% to close with a gain of 24 cents a share at $28.63. Late Tuesday, Xilinx said it now expects third-quarter sales to fall between 7% and 9% from its second-quarter levels.
Such a forecast would put Xilinx's sales between $563.9 million and $576.3 million. The company had earlier projected sales for the quarter ending in December to be flat or down up to 4% on a sequential basis.
Xilinx said that revenue would by hampered by weaker sales to some of its large communications customers.
Other chip stocks that advanced included Altera Corp. (ALTR), Micron Technology Inc. (MU) and Texas Instruments Inc. (TXN)
Online travel site Priceline.com Inc. (PCLN) rose $9.17 a share to close at $416.17. Before the market opened, ThinkEquity analyst Aaron Kessler raised his rating on Priceline to buy from hold and lifted his price target for shares of the online-travel site to $530 from $450 previously.
Kessler said Priceline should continue to benefit from continued strength in the travel industry, particularly from its European and international business.