PREVIEW: Cirrus dips ahead of report, soft iPhone demand in focus

Cirrus Logic

01/11/2022 18:25

** Shares of Cirrus Logic Inc  CRUS.O  off 0.5% ahead of the
Apple supplier's qtrly report after the bell, with analysts
expecting a drop in sales amid lackluster iPhone demand
    ** Last week, AAPL reported September-qtr iPhone sales below
Wall Street expectations and said its total revenue in the
December holiday qtr would grow under 8%
    ** AAPL accounts for about 80% of CRUS' business
    ** Analysts on avg expect CRUS qtrly rev down 0.7% to $463
mln and adjusted EPS of $1.44, per Refinitiv
    ** The analog and audio chipmaker's stock is down 27% YTD vs
Nasdaq's  .IXIC  30% decrease
 (Reporting by Noel Randewich)
 ((noel.randewich@tr.com; Twitter: @randewich;))