Tech Stocks Rebound After Early Decline (QTEC) (AAPL) (ORCL) (ALTR)

After declines early in the trading day, tech stocks were able to turn things around following positive news from the Federal Reserve.

The Fed predicted a moderate economic recovery and maintained its current money policy.

The First Trust NASDAQ-100-Tech Index (Nasdaq: QTEC) exchange traded fund was up nearly 1% for the day.

Shares of chipmaker Altera Corp. (Nasdaq: ALTR) climbed more than 5% after the company reported profits.

After falling earlier in the day, Oracle Corporation (Nasdaq: ORCL) recovered for a modest gain. Prior to the market opening, the company announced that its acquisition of Sun Microsystems was complete.

Apple Inc. (Nasdaq: AAPL) shares were also down early in the day before staging a modest recovery. CEO Steve Jobs unveiled the highly anticipated iPad today, which will play an important role in Apple's product line.