Wolfson Microelectronics, which makes semiconductors for consumer electronic products, has risen on rumours it is doing business with Apple again.

The company took a hit several years ago when Apple said it would not use the UK company's chips in later generation iPhones and iPads.

However, technology analysts say there is a Wolfson chip in a new adapter for the iPhone 5.

Peel Hunt analyst Alex Jarvis said an ABI Research 'teardown' of the Apple 'Lightning to 30-pin Adapter' revealed a Wolfson audio chip.

"This is a small part and the volume expectations for the adapter are likely to be low, tens of millions per annum - noting that third-party adapters are also on the market," he wrote in a note.

"However, it is a major positive for Wolfson that it is supplying Apple again.

"Apple remains a significant revenue opportunity for audio hubs and MEMS microphones in the future and any news that confirms an improving relationship with Apple is positive.

"It is important for Wolfson to demonstrate that its relationship with Apple is being rehabilitated."

Wolfson gave a non-committal response to the news saying that "along with its peers, operates under strict customer confidentiality clauses and as a result cannot comment on specific customer relationships or projects".

"The company remains comfortable with the current market consensus of financial forecasts, bearing in mind the rate at which designs-ins ramp to volume production," it said.

"It is relevant to mention that any new customer relationship would normally start with relatively modest projects until confidence is built and the relationship develops."

Analysts at finnCap echoed their peers saying that: "Wolfson does not seem to be replacing Cirrus Logic chips in Apple devices, after it lost the Apple account to the US rival several years ago. However, it's clearly encouraging news and very positive for the long term - indicating that Apple is once again prepared to integrate Wolfson's leading edge sound technology in the Apple eco-system."

Wolfson's shares were up 3.3% in morning trading on Monday.

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