Apple supplier Dialog weathers iPhone slump to hit revenue target
Shares in the Anglo-German company jump 4% as investors credit company’s resilience
Frankfurt — Chip designer Dialog Semiconductor said on Monday that it managed to hit its fourth-quarter revenue guidance despite a slump in iPhone sales at its main customer Apple. Shares in the Anglo-German company jumped 4% as investors credited the company’s resilience at a time when other Apple suppliers have slashed or missed their targets. The shares had fallen in early trade after Dialog said unaudited preliminary sales came in at $431m in the fourth quarter, the low end of a guidance range of $430m-$470 m, but they rebounded on the broader view that Dialog had weathered Apple’s recent sales slowdown well. “Dialog was one of the few Apple suppliers not to warn, stating at the time their comfort with the guidance provided,” said Barclays analysts in a note. About 75% of Dialog’s business is supplying power-management chips to Apple, which warned in November of slow year-end sales and on January 3 issued its first sales warning in 12 years, blaming weaker iPhone sales in China....
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