“Shares in LG Display (034220.KS), a flat-screen supplier for Apple Inc., plunged more than 4 percent on Thursday, hit by concerns of weaker demand from the iPhone and iPad maker after disappointing revenue forecast by a chip supplier to the U.S. firm,” Miyoung Kim and Hyunjoo Jin reports for Reuters.
“‘A warning by Cirrus Logic fueled concerns about sluggish sales of iPhone and iPad and adversely affect shares of LG Display, which generates about 20 percent to 25 percent of its revenue from Apple,’ said Jay Yoo, an analyst at Korea Investment & Securities,” Kim and Jin report.
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MacDailyNews Take: Cirrus Logic attributed their guidance to “a decreased forecast for a high volume product as the customer migrates to one of Cirrus Logic’s newer components.” Ooh, that sounds oh-so-horrible for Apple! Unless, of course, you can read and comprehend basic English.
I know there has been lots of rumors about order cuts and so forth and so let me just take a moment to make a comment on these. I don’t want to comment on any particular rumor because I would spend my life doing that but I would suggest it’s good to question the accuracy of any kind of rumor about build plans and also stress that even if a particular data point were factual it would be impossible to accurately interpret the data point as to what it meant for our overall business because the supply chain is very complex and we obviously have multiple sources for things, yields might vary, supply performance can vary. The beginning inventory positions can vary, I mean there is just an inordinate long list of things that would make any single data point not a great proxy for what’s going on. – Apple CEO Tim Cook, Q113 conference call with analysts, January 23, 2013
The bull case for Apple; AAPL not as ‘doomed’ as some may think – April 17, 2013
Apple nightmare scenario finally priced in; a great set-up for April 23rd earnings report – April 17, 2013
iPad mini shipments expected to drop 20-30% in Q213 as consumers wait for next-gen model, sources say – April 17, 2013
Apple stock price swoons after Cirrus Logic warns – April 17, 2013