When the world's largest company has a disappointing quarter, lots of tiny companies feel the shockwaves.

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When the world's largest company has a disappointing quarter, lots of tiny companies feel the shockwaves.

Post by Admin on Sat Jul 25, 2015 9:31 am

Apple (AAPLTech30) bummed out investors Tuesday by saying it sold "just" 47.5 million iPhones last quarter, coming in shy of the lofty targets Wall Street analysts set. Even worse, Apple sounded cautious about sales this summer.
That's why Apple shares slumped 5% on Wednesday, instantly wiping out a whopping $40 billion in market value.
But the iPhone pain extends beyond Apple itself. It's slamming the iPhone ecosystem, the collection of companies that supply the sophisticated technology powering the devices.
Just look at Cirrus Logic (CRUS), which makes micro chips used in Apple devices, including the iPhone. After running up in anticipation of blockbuster numbers from Apple, shares of Cirrus tumbled nearly 7% on Wednesday in the wake of the results.

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