Tech Stocks Gain Nearly 5 Percent in Recovery

Technology stocks rose more than 4.5 percent in Tuesday's overall stock recovery but still lagged the 4.7 percent gain in the S&P 500 Index.

The Philadelphia Semiconductor Index of 30 chip stocks rose nearly 4.7 percent, as did the Nasdaq 100 Tech Index.

The overall market rallied Tuesday after the U.S. Federal Reserve said it would keep interest rates low because of economic sluggishness.

Leading computer stocks, including IBM and Hewlett-Packard, rose more than 2.4 percent, while Apple jumped nearly 6 percent and Dell gained nearly 3.4 percent. Networking industry titan Cisco Systems gained nearly 1 percent ahead of fourth-quarter results due Wednesday.

Other technology stocks were mixed. Xerox gained more than 6 percent to $8.17, Yahoo rose 9 percent to $12.09 and Google shares went up 5 percent to $573.41.

Oracle, the biggest database company, also rallied 6 percent in the general upturn.

Not all tech stocks rose, though. Storage maker FalconStor Software lost 9 percent after reporting a second-quarter loss Monday. and AOL fell 11.5 percent after reporting dismal second-quarter results.

Tech stocks had lagged behind the overall gains in the major market indexes in 2011. They have been especially battered in the turmoil of the past week.