Tech content trusted by users in North America and around the world
7,250 Reviews & Articles | 52,603 News Posts

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

'Lacklustre iPhone sales' are to blame for Cirrus' revenue issues
By: Anthony Garreffa | 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.




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".


Related Tags

Got an opinion on this news? Post a comment below!
Subscribe to our Newsletter

Latest News Posts

View More News Posts
View Our Latest Videos

Forum Activity

View More Forum Posts

Press Releases

View More Press Releases