Shares of Apple were down just under 3 percent Monday in early trading after one of the company’s primary chip providers reported disappointing earnings.
Dialog Semiconductor, which provides Apple with power management chips for the iPhone and iPad posted an 18 percent rise in third-quarter revenue over the same quarter last year. That’s down from a 44 percent bump in the second quarter on demand for the iPhone 6.
Shares of Dialog were down 18 percent on the report in Frankfurt, which might have contributed to a sell off in Apple shares ahead of Cupertino’s Tuesday afternoon earnings call.
Apple did remarkably well in the holiday quarter following its release of the iPhone 6, selling a record 74.5 million devices. Of course, that quarter include a new flagship, a holiday, and the inclusion of sales in China.
Find out what analysts are saying about Apple’s upcoming earning here.
Shares of Apple were trading at $116.11 as of 10:55 ET.
Filed Under: Devices
