TECH STOCKS: GoPro Rises Amid Broad Tech Gains

By Rex Crum, MarketWatch

SAN FRANCISCO (MarketWatch) -- Technology stocks managed to recover from consecutive days of losses, posting solid results on Wednesday. The tech resurgence was led by digital-camera maker GoPro Inc.

GoPro (GPRO) rose more than 7%, to close at $78.46, more than three times the $24-a-share the company priced its IPO when it sold its shares public in late June. Rumors that GoPro could release a new camera in October may have contributed to some of the stocks gains.

Among other names riding tech's rise was Pandora Media Inc. (P), eBay Inc. (EBAY), Yahoo Inc. (YHOO) and Netflix Inc. (NFLX)

Amazon.com Inc. (AMZN) shares rose 1.4% to close at $328.21. An uptick in the e-retailers shares may be attributed to a survey by analysts at William Blair, which found that prices of goods purchased from Amazon were, on average, 6% lower than those purchase in retail stores. The survey, which analyzed 4,000 randomly selected items, also found that in states where Amazon doesn't collect sales tax, its prices average 12% to 13% less than traditional outlets.

One big tech giant not benefiting from the Silcon Valley buzz was Apple Inc. (AAPL). The Cupertino, Calif., shed almost 1% to close at $101.75. News that Apple said pulled an update to its recently released iOS 8 operating system following complaints that the update caused malfunctions with several features of the iPhone 6 (and the bendabilty of the iPhone 6 Plus) dragged shares lower.

Overall, tech-laden Nasdaq Composite Index (RIXF) climbed more than 46 points, or 1%, to close at 4,555 and the Philadelphia Semiconductor Index (SOX) ended the day up by 1.2%.

(Read more about the broader stock market in Movers & Shakers http://www.marketwatch.com/story/bed-bath-beyond-kb-home-jabil-likely-in-focus-2014-09-24.).

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