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A roundup of the latest high-tech news “Hot Off the Wire” from The Associated Press and Local Tech Wire:

• Dell upgraded at UBS on PC expectations

NEW YORK — Dell Inc. (Nasdaq: DELL) is poised to gain from a new cycle of computer upgrades at businesses, a UBS analyst said Thursday, upgrading the company’s stock.

UBS analyst Maynard Um said more companies should start replacing aging PCs in the second half of the year and into 2011. He said overall weakness in PC sales will be driven more by consumers and Dell is less exposed than some rivals to consumer demand.

The recent dip in Dell’s stock price also makes it an attractive buy, Um said. Dell shares have dropped nearly 13 percent since the company held an analyst presentation last week.

Um upgraded the company’s stock to "Buy" from "Neutral."

• Disney acquires iPhone game maker Tapulous

LOS ANGELES — The Walt Disney Co. has acquired Tapulous, the maker of the popular iPhone play-along music game Tap Tap Revenge, to bolster its ability to create mobile games and gain another toehold in Silicon Valley.

"It definitely is a strategic move and it highlights the importance we put on mobile," Steve Wadsworth, president of Disney Interactive Media Group, told The Associated Press.

The initial focus will be on making games for Apple Inc.’s iPhone, iPad and other emerging mobile platforms, he said.

Tapulous already has 30 million users on Apple platforms with games such as Tap Tap Revenge, for which it has put out versions with artists such as Metallica, Coldplay, Lady Gaga and Justin Bieber. A new game called Riddim Ribbon features The Black Eyed Peas.

Tapulous Inc.’s small staff will remain at the company’s headquarters in Palo Alto, which Wadsworth says is a benefit because it is in the high-tech developer community around San Francisco. Disney also owns Pixar Animation Studios in nearby Emeryville.

He did not disclose the terms of the acquisition.

Tapulous founder and CEO Bart Decrem and Chief Operating Officer Andrew Lacy will take on mobile business development roles at Disney as part of the deal, Wadsworth said.

• Yahoo board approves up to $3 billion of buybacks

NEW YORK — The board of Yahoo Inc. (Nasdaq: YHOO) has approved plans to repurchase up to $3 billion in stock over the next three years.

The Internet company bought back $385 million in stock in the first quarter. That’s more than Yahoo spent on share buybacks in 2008 and 2009 combined.

The new buybacks, disclosed in a regulatory filing Wednesday, are one way for the Sunnyvale, Calif., company to signal confidence in its stock, Caris & Co. analyst Sandeep Aggarwal says in a note.

Aggarwal says its shares are likely to get a lift over the next year. He adds the online display ad market is recovering from the recession and Yahoo’s search engine deal with Microsoft Corp. will help cut costs.