NEW YORK (
jumped 4.22% to $6.37 on Tuesday, reflecting the broader
Earlier this month, the semiconductor provider
plans to acquire bankrupt Japanese chip maker
and take a stake in Taiwanese chip maker
. By adding Elpida and Rexchip's manufacturing capabilities, Micron will roughly double its capacity to manufacture key components of smartphones and mobile devices and become a major supplier to
Shares of several Apple suppliers have been rallying since the Cupertino, Calif.-based firm reported its
, lifted by rumors that the
could debut as soon as September.
Apple shares rose 2.36% to $609.08 on Tuesday.
continued to tumble despite an upgrade from Alliance Bernstein analyst Carlos Kirjner from 'underweight' to 'market perform' with a $23 price target.
The stock is trading down 5.98% at $21.76 on Monday. Earlier in the day, Facebook shares were 3 cents away from hitting a new 52-week low. Shares of the social networker have fallen more than 40% since it began trading in mid-May.
--Written by Nathalie Pierrepont in New York.
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