QRVO - Apple supplier stocks fall after 'painful' Cirrus Logic miss

Apple suppliers are trading down today after Cirrus Logic ([[CRUS]] -16.4%) reported fiscal Q4 misses with a downside forecast due to supply constraints and Skyworks Solutions reported narrow FQ2 beats.Suppliers on the move include Lumentum ([[LITE]] -6.0%), Qorvo ([[QRVO]] -4.3%), Jabil ([[JBL]] -1.8%), SiTime ([[SITM]] -4.5%), and Broadcom ([[AVGO]] -2.0%).Cowen called the "surprising miss" by Cirrus Logic "painful" and surprising considering Apple's stellar report earlier this week, but the firm says the long-term growth drivers are still intact.Oppenheimer (Perform rating) says the softer FQ1 outlook "fits with seasonal norms" and the company should see inflection in the second half of hte year. But the firm sees limited upside and risks from CRUS' dependence on Apple.Deeper dive: Cirrus Logic earnings call transcript.

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Apple supplier stocks fall after 'painful' Cirrus Logic miss