Apple reportedly asked its suppliers to cut iPhone production again - these suppliers could get hit the hardest

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Cirrus Logic

Cirrus Logic

Ticker: CRUS

Business: Semiconductor supplier

Revenue from Apple: 79% of $1.2 billion annual revenue

Performance in the past 12 months: -36%

Wall Street Comment:

"The Apple continues biting back," said Oppenheimer. "Apple remains Cirrus Logic’s flagship customer. Widely publicized iPhone production cuts have echoed through the Apple supply chain."

Source: Business Insider

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Glu Mobile

Glu Mobile

Ticker: GLUU

Business: Mobile games developer

Annual revenue from Apple: 54% of $155 million annual revenue

Performance in the past 12 months: +146%

Wall Street Comment:

"Looking forward, its quality improves but our estimates rating shows a deterioration, mainly due to a decline in revenue per share," said SADIF Investment Analytics.

Source: Business Insider

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Network-1 Technologies

Network-1 Technologies

Ticker: NTIP

Business: Software provider

Annual revenue from Apple: 53% of $6 million annual revenue

Performance in the past 12 months: -4%

Source: Business Insider

Zynga

Zynga

Ticker: ZNGA

Business: Game developer

Annual revenue from Apple: 51% of $439 million annual revenue

Performance in the past 12 months: +10%

Source: Business Insider

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Qorvo

Qorvo

Ticker: QRVO

Business: Semiconductor supplier

Annual revenue from Apple: 36% of $1.07 billion annual revenue

Performance in the past 12 months: -12%

Wall Street Comment:

"Cutting Estimates/Target Again On iPhone Weakness," said UBS. "While there could be some risk to Dec, issues seem likely to persist into 1H:19 given macro and China demand commentary especially given China exposure here that is generally larger than peers."

Source: Business Insider

Meet

Meet

Ticker: MEET

Business: Entertainment service provider

Annual revenue from Apple: 33% of $41 million annual revenue

Performance in the past 12 months: +100%

Source: Business Insider

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Jabil

Jabil

Ticker: JBL

Business: Manufacturing service provider

Annual revenue from Apple: 24% of $4.58 billion annual revenue

Performance in the past 12 months: -10%

Wall Street comment:

"We are cautious heading into F1Q19 results owing to macro concerns, tariff noise, and temporary slowdown in margin performance on ramping programs," JPMorgan noted.

"Further we think Street estimates are slightly on the high side, and do not reflect weaker demand from a key JBL customer."

Source: Business Insider