Apple Supplier Cirrus Warns of Weak Results
Everyday Apple makes its way to headline news in one way or another. On Wednesday, April 17th 2013, Apple saw its shares dropped below $400 per share and it is the company has seen since the year 2011. One of Apple’s suppliers, Cirrus Logic Inc., a company that makes energy and audio chips has seen their shares drop correlating to Apple’s poor performance. Their revenue report showed poor performance and their stock dropped 14%. Cirrus Logic Inc.’s chips that Apple uses are for both the iPad and iPhone, poor sales could indicate the poor performance of both companies.
It is very saddening to see Apple’s shares dropping almost every single day. A stock that once had seen their share above $700 are now seeing their lowest prices for ever two years. Google, one of Apple’s biggest competitors are seeing their stock performing extremely well and one of Android’s best sellers are releasing in the near future. I am curious to see how Apple’s stock will do in the upcoming months.