Intel Corp. shares closed above a key technical level for the first time since mid-June as shares bounced back Tuesday while shares of up-and-coming rival Advanced Micro Devices Inc. sold off.

Intel INTC, -0.88% shares led Dow Jones Industrial Average DJIA, -0.22% components higher with a 3.6% gain to close at $48.10, after reaching an intraday high of $48.88. The stock also led gainers on the PHLX Semiconductor Index SOX, -0.32% , which closed up less than 0.1%. The stock was up another 1.4% in premarket trade Wednesday.