Shares of Apple supplier slump as analyst hints at iPhone 15 abandoning button design
By MYBRANDBOOK
Shares of Apple Inc supplier Cirrus Logic Inc tumbled about 12% after news started surfacing that the iPhone maker will abandon the solid-state button design for premium variants of its iPhone 15 series of smartphones.
Amid speculation Apple would use a button format that remains static, a renowned analyst, TF International Securities’ Ming-Chi Kuo, known for his accurate predictions related to Apple's product launches said in a blog post that the company decided to abandon the design shift.
"Investors had anticipated that the new solid-state button design would increase suppliers' revenues and profits," Kuo said.
Kuo said the iPhone 15 Pro smartphones were in the Engineering Validation and Testing (EVT) stage and Apple had the room to modify its design. He added the decision was also unfavourable for another supplier Hong Kong-listed AAC Technologies Holdings.
Shares of integrated circuit maker Cirrus Logic have hit their lowest in over two months and are set for their worst day in about two years.
Kuo added that removing solid-state buttons "should have a limited impact on the mass production schedule and shipments for Pro models."
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