Following a rumor from analyst Ming-Chi Kuo that the next iPhone 15 Pro won’t use Cirrus’ haptic touch technology as prominently as previously anticipated, shares of Apple supplier Cirrus Logic dropped roughly 12% early on Wednesday.

Apple’s haptic touch technologies, which have been used to replace physical buttons like the home button on some iPhones with touch-sensitive buttons that imitate the feel of a button push, are powered in part by technology and components from Cirrus. Around 88% of Cirrus’ income for the most recent quarter came from its relationship with its “largest customer,” generally recognised as Apple.

Kuo had previously stated that Apple will use Cirrus’ technology for purposes other than haptic touch and would switch to solid-state volume controls. However, Kuo claimed that “unresolved technical issues” had compelled the tech giant to drop the modification in his most recent note, which was published on Tuesday evening.

Investors had hoped that the new solid-state button design would boost suppliers’ sales and earnings, thus this shift is particularly detrimental to Cirrus Logic (the exclusive controller IC provider) and AAC Technologies (the tactic engine supplier), according to Kuo’s Tuesday report.

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Just about 15% of AAC’s shares plummeted in Shenzhen, China.

Requests for comment from Cirrus and Apple were not immediately fulfilled.


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