NEW YORK (CNN/Money) -
Technology stocks rallied just before the close Wednesday, with the Nasdaq advancing for a seventh session, as Apple, Sirius and Netegrity all rose.
The Nasdaq composite index added 15.53 points, or 0.8 percent, to close at 1,971.03. The AMEX Computer Technology Index rose 0.7 percent to 666.06, and the Philadelphia Semiconductor Index edged up 0.4 percent.
Among technology bellwethers, No. 1 software maker Microsoft (MSFT: Research, Estimates) rose 0.5 percent to $28.53, and semiconductor heavyweight Intel (INTC: Research, Estimates) fell 0.9 percent to close at $21.13.
IBM (IBM: Research, Estimates), the world's biggest computer company, advanced 0.8 percent to $88.04, and rival Dell (DELL: Research, Estimates) gained 1.5 percent to close at $36.66.
Apple (AAPL: Research, Estimates) shares jumped after First Albany raised its price target on the computer maker's stock to $44 a share from $35, citing the company's brisk iPod and new iMac sales. The company reports quarterly earnings next week.
Cisco Systems (CSCO: Research, Estimates) rose to $19.53, up 0.43 cents, and Lucent (LU: Research, Estimates) jumped 8.6 percent to $3.39.
In tech news, Computer security provider Netegrity Inc. announced it will be bought by Computer Associates in an all-cash merger valued at approximately $430 million, or $10.75 per fully diluted common share.
Netegrity (NETE: Research, Estimates) shares soared 36 percent to close at $10.54, and Computer Associates (CA: Research, Estimates) shares rose 1.7 percent to close at $27.85.
Sirius Satellite Radio stock also jumped 15.5 percent to $3.87 on news that the company signed a five-year, multimillion dollar contract with shock jock Howard Stern to begin January 2006.
And Google Inc. quietly launched new search technology that helps publishers sell books online, a fast-growing market dominated by Internet retailer Amazon.com.
Google (GOOG: Research, Estimates) shares fell nearly 1 percent to $137.08, while Amazon (AMZN: Research, Estimates) shares rose about 1 percent to $41.36. Online auction site eBay (EBAY: Research, Estimates) closed at $96.60, up 2.9 percent.
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