iPhone Suppliers Tumble After Cirrus Logic Adds to Forecast Cuts
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Major suppliers to Apple Inc.’s iPhone fell Tuesday, after Cirrus Logic Inc. joined the ranks of companies that have recently cut their outlooks, a trend that has underlined concerns about demand prospects for one of the most important product lines in the technology sector.
Cirrus sank as much as 6.3 percent before paring declines. The chipmaker cut its revenue outlook for the December quarter due to “recent weaknesses in the smartphone market.” Lumentum Holdings Inc., which cut its outlook last month, fell as much as 5.8 percent. Qorvo Inc., another supplier that recently slashed its forecast, shed as much as 4.1 percent.