Steve's Gadget Blog: October 2008 Archives

British ‘iPhone chipmaker’ sees falling demand; stock crashes
October 02, 2008

Edinburgh-based chipmaker Wolfson Microelectronics reported a sharp downturn in orders in the past few days, as weak consumer confidence hits demand. The news has sent its shares tumbling by as much as 25% to a new low.

It said it now expects fourth-quarter revenue to be between $45m and $50m, compared with a previous consensus expectation of $58.87m according to a survey of three analysts by Reuters Estimates.

The company, which makes chips for products including Apple’s iPhone, said it experienced a “material reduction” in orders intake and more rescheduling of orders in recent days...[click continue reading for more on this entry]...

Continue reading "British ‘iPhone chipmaker’ sees falling demand; stock crashes"

  Email this entry to a friend

Posted by Jason Stamper on 12:49 PM | Comments (0)

back to top