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More on Analog Devices: FQ1 guidance is for a 6%-12% Q/Q revenue drop, below a consensus for a...

More on Analog Devices: FQ1 guidance is for a 6%-12% Q/Q revenue drop, below a consensus for a 2% decline. Orders fell during FQ4 due to inventory adjustments (an ongoing problem for many chipmakers), and this has driven ADI to slash production. That, in turn, is a reason gross margin fell 180 bps Q/Q to 63.8%, and is expected to fall to 62% in FQ1. Industrial and automotive sales fell both Q/Q and Y/Y, consumer +28% Q/Q (boosted by seasonality) but -6% Y/Y. ADI -3.2% AH. TXN -0.5%. CC at 5PM ET (webcast). (PR)

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