Jim:      When you find a bull that's this big, with a product cycle that will last for years, thanks to enormous demand thanks to the iPhone, as they go from a luxury or a fashion accessory, to something that most people in the developed world consider to be necessities, then stocks at just about all of the companies that are even loosely connected to the trend usually get pulled along for the ride...

In other words, you don't have to be an Apple or a RIM, or a Palm to do really well at this point...

I think you could buy some component makers that most people have never heard of, and still make out like a bandit...

I'm talking about names like TriQuint Semiconductor, Inc. (TQNT)... Remember, it's "Speculation Friday"...

Never heard of TriQuint?... This $5 and change tech stock used to trade around $50 bucks in the heyday of the tech bubble. It's totally speculative, but I think it's worth owning. And, on this one, I want to thank my friend, Dave Pelletier, my colleague at TheStreet.com where I'm chairman, who currently runs the "Stocks Under $10" newsletter and, I've got to tell you, he's making such a persuasive case for TriQuint... well, he's convinced me to get behind it.

You're not familiar with TriQuint, because it really hasn't done much to make itself known... It's a semiconductor company that makes really quiet components. You never look at it. It's not name brand. For phones and smartphones... it has some exposure to wireless networks, the other side of the mobile internet play... and it's got some military business. I haven't focused personally on TriQuint since back in the days of my old hedge fund, so it's thrilling to think the stock is having, if not breaking, a second wind here.

TriQuint's a special iPhone play... It makes three transmit modules in every iPhone... That's a lot of iPhone real estate. That means, for every iPhone that Apple sells, TriQuint generates about $3-$4 of revenue... and just think about how many more iPhones will get sold, now that Apple is selling the iPhone 3G for just $99, right...

The company's also a play on China's $40 billion in wireless. China is spending $40 billion and, when they get done, they're going to be buying a lot of iPhones...

It has good relationships with the companies involved in China's 3G rollout... This is another big driver in tech.

While the iPhone and China exposure in tech are great, if you're going to buy this stock, you need to understand that TriQuint isn't... isn't... some special semi(conductor) play, with lots of proprietary technology and reams of patents... It's a lower-tier player that competes in mostly commoditized businesses... meaning basically that a transmit module or a power module made by TriQuint IS practically interchangeable with one made by another semi company... which means it does have loads of competition.

I'm trying to put the fear of... You know, I want you to be nervous here, because this is a spec. When you buy TriQuint, you're buying, at best, a third-tier company... a company that makes many parts for businesses... but none of its merchandise is anything to get excited about...

The stock is mainly a play on the overall strength of the entire smartphone market; you buy it because the market for the end product is so strong, that even commodity component makers like TriQuint are raking in a lot of money... simply because the demand works its way down the tech food chain.

This bull is so big... the product cycle is so gargantuan... that there's demand for everything, and I think customers will ultimately be willing to pay up, even for commodity semis.

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