(Reuters) - U.S. tech stocks jumped higher on Wednesday after strong earnings and forecasts from Intel Corp (INTC.O) further galvanized hopes that the beleaguered technology sector's recovery was underway.
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Analysts say Intel's better-than-expected revenue and margin forecasts for the second quarter and 2010 had heightened expectations for a faster and stronger recovery in everything from computers to software, potentially triggering a sustained stock rally.
Intel, whose chips power more than three-quarters of the world's PCs, said on Tuesday that business spending was growing again and it was increasing capacity to meet stronger-than-expected demand.
http://www.reuters.com/article/idUSTRE63D3F520100414?type=globalMarketsNews
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