NEW YORK (

TheStreet

) --

Micron Technology

(MU) - Get Report

jumped 4.22% to $6.37 on Tuesday, reflecting the broader

uptick

in

Apple

(AAPL) - Get Report

-related stocks.

Earlier this month, the semiconductor provider

announced

plans to acquire bankrupt Japanese chip maker

Elpida

and take a stake in Taiwanese chip maker

Rexchip Electronics

. 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

Apple

(AAPL) - Get Report

.

Shares of several Apple suppliers have been rallying since the Cupertino, Calif.-based firm reported its

third-quarter earnings

, lifted by rumors that the

iPhone 5

could debut as soon as September.

Apple shares rose 2.36% to $609.08 on Tuesday.

Facebook

(FB) - Get Report

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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