stock back to unchanged again despite expected positive analyst commentary and an upgrade to strong buy
which will almost certainly make the setup for a sizeable price decline today
Apart from the big Apple related revenue ramp up (which already will come down significantly in the March quarter) the company offered only bad news in case of production issues and additional pricing pressure related to Apple, an ongoing depressed non-Apple business, delayed LED products.
As Apple has to deal with margin pressures itself they are now going after the main suppliers which looks quite reasonable.
There's no easy way out of this situation for Cirrus as they are fully dependent on Apple now which means zero pricing power going forward and they need to pray before every new Apple product release that this will become a megaseller again.