Apple supplier Dialog Semiconductor has managed to reach its revenue guidance for Q4, 2018. The company reported preliminary sales of $431 million which just made the low end of its $430-470 million guidance, notes Reuters.
Around 75 percent of Dialog’s business is supplying power-management chips to Apple, which warned in November of slow year-end sales and on Jan. 3 issued its first sales warning in 12 years, blaming weaker iPhone sales in China. Shares in suppliers have been hit as a result, with many forced to revise their guidance lower. Dialog, however, stood by its fourth-quarter revenue forecast and managed – just – to meet it.
The stock dipped briefly following the announcement but has since rebounded and currently sits at +2.46%. This is likely due to the company's resilience during a quarter which saw Apple and many of its suppliers miss their guidance.
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