Cirrus Logic’s stock drops after downbeat analyst note on Apple

Shares of Cirrus Logic Inc. dropped 6.3% in morning trade Tuesday, after Credit Suisse said it believed the chip maker’s biggest customer, Apple Inc. , was seeing weaker demand for the iPhone 6s. Cirrus said in a recent regulatory filing that Apple accounted for about 63% of its revenue in the fiscal second quarter ended Sept. 26. Analyst Kulbinder Garcha said his research suggests Apple has lowered its component orders by as much as 10%. Apple’s stock shed 3.1% in morning trade.

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