TECH STOCKS: Apple Gains On China News; Chips Lift Techs

By Rex Crum, MarketWatch

SAN FRANCISCO (MarketWatch) -- Apple Inc. took the spotlight Thursday, rallying on news of a much-awaited deal with China Mobile, while the broader tech sector got a boost from gains in semiconductor shares.

Apple (AAPL) was up 1.2% to $571.97 after China Mobile, the world's biggest carrier, finally signed a deal with the Silicon Valley giant to offer iPhones on its network, which has more than 700 million subscribers. Apple's stock reached a 52-week high of $575.14.

The tech sector also got a lift from chip stocks, led by Intel Corp. (INTC), which was up 1%, one the top gainers on the Dow Jones Industrial Average (DJI) . The Dow was down 33 points. Advanced Micro Devices (AMD) was up 1.3%, while Broadcom Corp. (BRCM) added more than 3%.

But the tech sector was weighed down by losses in shares of H-P (HPQ) and Microsoft Corp. (MSFT) Microsoft and H-P were each down about 1%.

The Nasdaq Composite Index (RIXF) was last down 0.1% to 4,035. The Morgan Stanley High Tech 35 Index (MSH) was off a fraction, while the Philadelphia Semiconductor Index (SOX) edged higher by 0.6%.

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