Shares of Cirrus Logic Inc. (Nasdaq: CRUS) were pummeled on Thursday after the company gave a presentation at Barclay's telecommunication conference. During the presentation, Cirrus noted increased pricing pressure in the smartphone market. The information below was taken from slides.
*Revenue of $150-$170 million
* Gross margin of 50-52%
*R&D and S
That presentation cost the company $225M in market cap. Did anyone review the charts before they were presented? What's planned for tomorrow? Another $225M? Is management developing a strategy to increase market share to compensate for reduced margin, or is the company planning to remain a one-trick pony?