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NEW YORK -- Is the semiconductor industry about to turn up? One Wall Street analyst thinks so.

Wachovia analyst David Wong has upgraded the semiconductor sector to overweight from market weight, saying a recovery could come in the next quarter.

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TAIPEI -- Hon Hai Precision Industry (Foxconn) this year will oversee distribution of Apple products in mainland China, according to various media reports, including China's Commercial Times.

Quoting an unnamed Taiwanese media sources, the reports claim Hon Hai plans to increase IT product sales channels in China using its consumer electronics division and mainland subsidiary channel distributor Cyber Mart.

One report went so far as to claim that Hon Hai seeks to become the largest channel distributor of consumer electronics for mainland China.

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