Another Supplier Just Cut Its Apple Sales Forecast
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Cirrus Logic Inc. joined a growing list of Apple Inc. suppliers in cutting its revenue forecast for the holiday quarter.
The Austin, Texas-based chipmaker cited "recent weaknesses in the smartphone market" in reducing sales projections for the current quarter to a range of $300 million to $340 million. That’s down from the $360 million to $400 million Cirrus projected on Nov. 1 and compares with the average analyst estimate of $367 million, according to data compiled by Bloomberg. The stock fell as much as 9.2 percent in extended trading.