Re: what does this imply?
Looks to me that Apple has a new touch system with new audio codec system coming which might be the answer to the new product offering. Remember Cirrus doesn’t have a chip in any Apple device. Cirrus does the development and manufacturing for Apple but it is an Apple chip. Looks like Apple is coming up with some new chips and more of them will come through Cirrus.
As soon as 4 weeks ago, Cirrus talked about exciting growth in 2020 calendar year. Some of it was from something new that would have good revenue great revenue. Some that seems to be attached to topics. Also the potential for Flagship phones didn’t decrease in that last slide. I think we are getting more information about the new product though and that Cirrus is upgrading technology for Apple codec.
The codec is 1.8 now at 180 million phones that’s 300 m lost revenue it were completely gone. Not good at all.
You did answer the question for the reason for the big down today,