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Friday, Jan 25
Apple may have added to its losses today, but Cirrus Logic (CRUS +10%), believed to get ~3/4 of...
Apple may have added to its losses today, but Cirrus Logic (CRUS +10%), believed to get ~3/4 of its revenue from Apple, nearly made up for yesterday's drubbing after the Street concluded the below-consensus guidance accompanying Cirrus' FQ3 beat was more than priced in. Also: Cirrus' FQ4 gross margin is expected to be flat Q/Q in spite of a major revenue drop, and the chipmaker noted on its earnings call its efforts to win additional mobile OEM customers and grow LED lighting controller chip sales are paying off. (shareholder letter) (slides)