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Cirrus' revenue earnings down due to 'lacklustre iPhone demand'

'Lacklustre iPhone sales' are to blame for Cirrus' revenue issues
| Business, Financial & Legal News | Posted: Apr 18, 2013 11:36 am

Apple's shares received yet another stab in the heart, getting themselves stuck in a riptide below $400. Now we have chip vendor Cirrus Logic, a company that Apple has used for a long time now for iPhone audio chips reporting some not so great earnings.

 

cirrus_revenue_earnings_were_down_due_to_lacklustre_iphone_demand_09

 

Barron's latest node from Needham & Co analyst Vernon Essi Jr. says that one of the big reasons Cirrus will miss their quarterly revenues is because Apple is "losing its mobility mojo". The analyst says that the guidance "indicates that the recent fears of Apple's lackluster iPhone demand in 2013 are warranted" and that sales "are more likely in the 55M range for 1H2013 vs. Street forecasts that are above 60M units".

NEWS SOURCES:Bgr.com

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