RBC's report about a cheaper iPhone arriving in the June/July timeframe appears to be giving a...

|By:, SA News Editor
RBC's report about a cheaper iPhone arriving in the June/July timeframe appears to be giving a lift to Cirrus Logic (CRUS +3.2%). A prediction the device will yield $22B in 2014 sales on the back of 72M shipments probably isn't hurting either. Whereas many on the Street are ambivalent about the impact of a less costly iPhone on Apple - positive on its sales/market share effect, but concerned about cannibalization and margin pressure - its arrival would be a clear-cut positive for Cirrus, provided it lands the phone's audio codec slot.