RF Micro Sees Demand Surge

Investors bid up RF Micro Devices(RFMD Quote) Thursday after a top exec pointed to strong demand for cell phones and solid relationships with key customers.

In a presentation at the Credit Suisse First Boston annual technology conference in Phoenix, finance chief Dean Priddy Jr. outlined a bullish outlook for the next several quarters. Shares of RF Micro rose 5% to $5.96.

"If there's any difference between this year and last year, it's the confidence that we have going into the March quarter," said Priddy. While there is typically a seasonal downturn in handset sales in the March quarter, Priddy said that a couple of RF Micro's customers have already commented that they're expecting a less marked seasonal downturn during the period. "The March quarter is going to be a very strong quarter, not only for the industry but for RF Micro," Priddy said. ...