Apple Suppliers Upgraded On IPhone Demand

Shares of Apple Inc. suppliers Cirrus Logic Inc. and Skyworks Solutions Inc. were upgraded to overweight at Pacific Crest on Tuesday. Analyst Andy Hargreaves said checks with Apple's supply chain indicate a slight increase in orders for the fiscal fourth and first quarters. He believes Apple is providing early indications that it expects to order components for at least 100 million high-end iPhones in the second half of this calendar year. Pacific Crest increased its iPhone unit estimate to 50 million from 48 million for the fourth quarter and to 80 million from 78 million for the first quarter. Shares of Apple traded up 0.1% to $143.82 on Tuesday. They've gained 24% in the past three months, compared with a 3.5% increase for the Dow Jones Industrial Average . Shares of Skyworks soared 2.6% to $100.33, while Cirrus Logic's jumped 4% to $62.95.