Why Cirrus Logic Shares Are Getting Hammered After Apple Analyst Remarks

Cirrus Logic, Inc. CRUS shares are trading lower by some 12.2% to $89.44 Wednesday morning. The stock is falling after an Apple analyst said the iPhone 15 is unlikely to have solid state buttons due to unresolved technicaly issues. Cirrus Logic is an Apple Inc AAPL supplier and generally is a provider of integrated circuits for audio and voice signal processing applications.

What Happened?

Ming Chi Kuo, an analyst at TF International Securities and a prominent Apple leaker, shared his latest predictions surrounding the company on Wednesday. 

Based on the latest survey, he predicted that iPhone 15 Pro and iPhone 15 Pro Max “will abandon the closely-watched solid-state button design and revert to the traditional physical button design.”...Read More

According to data from Benzinga Pro, CRUS has a 52-week high of $111.15 and a 52-week low of $61.94.