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More on Cirrus Logic's FQ1: If there was any doubt an iPad Mini will be accompanying a new...
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Monday, July 30, 2012, 4:21 PM ETMore on Cirrus Logic's FQ1: If there was any doubt an iPad Mini will be accompanying a new iPhone, or that Cirrus is designed into both, the blowout FQ2 guidance should quell it. Cirrus is only guiding for an FQ2 gross margin of 52%-54% (FQ1 was at 54%), which suggests Apple (AAPL) drove a hard bargain. Opex is expected to rise 14%-23% Q/Q. The company also announces it's selling its Apex Precision Power analog chip business for $26M. Canaccord's call today was a smart one. CRUS +14.3% AH. (PR)
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