Scalper1 News
Audio chipmaker Cirrus Logic appears to have lost out to Maxim Integrated Products on some components in next-generation Apple devices, Pacific Crest Securities reported Monday. “We believe that Maxim has won multiple audio amplifier sockets on Apple’s upcoming new products,” Pacific Crest analyst John Vinh said in a research note. “Maxim’s win is primarily due to better dynamic power performance.” The loss of business could cost Cirrus Logic (CRUS) 50 cents of content per unit, Vinh said. That would reduce Cirrus Logic’s fiscal 2016 earnings per share by 20 to 25 cents, he said. Cirrus Logic’s recent acquisition of Wolfson Microelectronics should help offset some of the lost Apple (AAPL) sales, Vinh said. He rates Cirrus Logic stock as underperform, with a fair value of 18 to 20. Cirrus Logic was down 2.5%, near 22.85, in morning trading on the stock market today. Shares of Maxim Integrated Products… Scalper1 News
Scalper1 News