Apple suppliers' gains deflated

NEW YORK (CNNMoney) -- Shares of several tech companies expected to benefit from an anticipated Apple iPhone 5 tumbled from their highs Tuesday when a new version of its iPhone 4 was unveiled instead.

Cirrus Logic (CRUS), which supplies chips for Apple (AAPL, Fortune 500) products, was up nearly 7% before Apple announced the new iPhone 4S, but dropped to a gain of 1% after the California event. Shares of Skyworks Solutions (SWKS), which provides Apple devices with wireless connectivity technology (Stocks we love) were up 2% after an earlier 6% gain.

As talk swirled about the potential size of a new iPhone, shares of Zagg, a company that makes cases and other protective covers for iPhones and iPads, rose a whopping 15%. But that boost was also temporary -- shares of the company eased to a 3% gain later in the day.

A new and improved camera was released -- one with a sharper 8-megapixel camera (What to watch for Apple's event). Shares of OmniVision Technolgies (OVTI), which makes image sensors for the camera, got a boost, rising 8%.

According to Van Baker, a vice president at Gartner Research, the boost is no surprise: Apple's golden touch expands to all companies associated with its products during big announcements.

"Any time apple does Apple does an announcement, it's likely to have significant volume implications. People that use Apple love their products -- if they bring out a new phone, they're likely to want to have it," he said.