Apple (AAPL) shares got whacked again in the stock market today, and the stock’s plunge also looks to be affecting its chip suppliers, including Skyworks Solutions (SWKS), Cirrus Logic (CRUS) and Qorvo (QRVO). Shares sank as much as 4.3% in huge volume Tuesday, dropping to their lowest level in more than six months. The stock has now fallen for 10 out of the past 11 straight sessions. In Monday’s session, the stock broke below its 200-day moving
Apple (AAPL) topped third-quarter earnings and sales expectations late Tuesday. But its Q4 revenue guidance was light, and investors are worried about Apple Watch sales. That caused several of the consumer technology giant’s chip suppliers, including Qorvo (QRVO), NXP Semiconductor (NXPI), Cirrus Logic (CRUS) and Skyworks Solutions (SWKS), to take a hit in the stock market today. Qorvo sank 5% in fast trade, triggering a sell signal. For those who
Audio chipmaker Cirrus Logic appears to have lost out to Maxim Integrated Products on some components in next-generation Apple devices, Pacific Crest Securities reported Monday. “We believe that Maxim has won multiple audio amplifier sockets on Apple’s upcoming new products,” Pacific Crest analyst John Vinh said in a research note. “Maxim’s win is primarily due to better dynamic power performance.” The loss of business could cost Cirrus Logic (CRUS) 50 cents of content per unit, Vinh said. That would reduce Cirrus Logic’s fiscal 2016 earnings per share by 20 to 25 cents, he said. Cirrus Logic’s recent acquisition of Wolfson Microelectronics should help offset some of the lost Apple (AAPL) sales, Vinh said. He rates Cirrus Logic stock as underperform, with a fair value of 18 to 20. Cirrus Logic was down 2.5%, near 22.85, in morning trading on the stock market today. Shares of Maxim Integrated Products…