iPhone Sales Forecasted to Decline Y-O-Y for the First Time Ever – Latest Updates on AAPL, CRUS, QCOM and SWKS

New York, New York – April 27th, 2016 - Recent analysts’ projections call for iPhone sales to decline year-over-year for the first time ever. According to Bloomberg, Barclays’ analyst Mark Moskowitz forecasts iPhone sales to decline over the next two quarters. "Our research indicates [iPhone 7] prototypes do not suggest any must-have form factor changes. In such a case, IP7 could be more of a replacement cycle versus a mega cycle (i.e., [iPhone 6])," Moskowitz and his team wrote in a recent research note.

Additionally, KGI Securities analyst Ming-Chi Kuo in a research note to clients forecasted Apple's global iPhone shipments to fall short of analysts’ estimates of 210 to 230 million devices in fiscal 2016.

Here is how Apple and some of its chip suppliers reacted Tuesday:

Apple Inc. (NASDAQ: AAPL) shares declined 0.69 percent to close at $104.35 a share Tuesday. The stock traded between $103.91 and $105.30 on volume of 40.59 million shares traded. The company reported revenues were $50.6 billion for the second quarter of fiscal 2016, a decrease of 12.8 percent from revenues of $58.0 billion a year ago. Shares of Apple have fallen approximately 1.0 percent year-to-date and are down roughly 1.0 percent in the past month.

Find out more about Apple including full access to the equity report at: 
www.StockTheory.com/AAPL

Cirrus Logic, Inc. (NASDAQ:CRUS) shares closed at $33.91 a share Tuesday, flat for the day. The stock traded between $33.29 and $31.92 on volume of 2.51 million shares traded. The company reported revenues were $232.0 million for the fourth quarter of fiscal 2016, a decrease of 9.1 percent when compared to a year ago. Shares of Cirrus Logic have gained approximately 15.0 percent year-to-date and are down roughly 2.0 percent in the past month.

Find out more about Cirrus Logic including full access to the equity report at:  
www.StockTheory.com/CRUS

Qualcomm, Inc. (NASDAQ: QCOM) shares gained 0.92 percent to close at $52.91 a share Tuesday. The stock traded between $52.45 and $52.96 on volume of 7.51 million shares traded. The company reported revenues of $5.6 billion for the second quarter of 2016, a decrease of 19.0 percent when compared to revenues of $6.9 billion a year ago. Shares of Qualcomm have gained approximately 6.0 percent year-to-date and are up roughly 4.0 percent in the past month.

Find out more about Qualcomm including full access to the equity report at:  
www.StockTheory.com/QCOM

Skyworks Solutions Inc. (NASDAQ: SWKS) shares gained 1.39 percent to close at $71.70 a share Tuesday. The stock traded between $71.03 and $72.50 on volume of 2.51 million shares traded. The company is scheduled to report earnings results for the second quarter of fiscal 2016 after market close on Thursday, April 28th. Shares of Skyworks Solutions have fallen approximately7.0 percent year-to-date and are down roughly 6.0 percent in the past month.

Find out more about Skyworks Solutions including full access to the equity report at: 
www.StockTheory.com/SWKS

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