Cirrus Logic, Inc. (CRUS) Dongle Removed from All iPhones - Barclays

September 13, 2018 11:22 AM EDT
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Cirrus Logic, Inc. (NASDAQ: CRUS) dongle has been removed from all iPhone according to the Apple website says Barclays.

Analyst Blayne Curtis comments "Comparing the iPhone 7/8 pages from last week to the pages today, we have identified that AAPL will remove the dongle (~$1.00 CRUS content) from its entire suite of phones. See links to the iPhone 8 Page Web Archive, Sept 6 and iPhone 8 Page, Today. Under tech specs, the AAPL website previously noted the phones contain a “Lightning to 3.5mm Headphone Jack Adapter” in box and has since removed the item under each phone. While CRUS did admit the dongle was out in current generations, it’s an additional negative that they are also removing the dongle from the older products. We estimate this could equate to another $35M of downside in CY18 and $25M downside in 2019 to our already below-Street numbers."



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