Apple sees shares slip

Apple shares fell yesterday when chip supplier Cirrus Logic revised its revenue forecasts.

Cirrus suggested blamed reduced demand on one customer – without naming them – but the investors have guessed Apple and sold shares accordingly.

The share price slipped down to under $400, the lowest level since 2011, before increasing slightly to $402.80 by the end of the day.

Cirrus Logic makes components for iPhone and iPad, and its latest figures suggest Apple may not be releasing a new phone or iPad any time soon.

Apple hasn’t commented, but will reveal Q1 results next week.