Cirrus Logic (CRUS -2.4%) slumps after fellow Apple (AAPL +0.6%) suppliers TriQuint and...
Thursday, February 7, 2:48 PM ETCirrus Logic (CRUS -2.4%) slumps after fellow Apple (AAPL +0.6%) suppliers TriQuint and Multi-Fineline issue light guidance. Multi-Fineline (MFLX +0.9%), which apparently received 84% of its FQ1 (calendar Q4) sales from Apple, expects FQ2 revenue of $180M-$200M, below a $218.2M consensus. Moreover, gross margin is expected to be "slightly negative," as the circuit board maker works to pare inventory - shares have already priced in a lot of bad news. Apple continues to outperform with some help from David Einhorn.
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