MKM Partners analyst Ruben Roy lowered his price target on Cirrus Logic (CRUS) to $54 after a Q3 earnings miss attributed to unexpected weakness in smartphone demand that began to materialize in late December. Roy also notes the Q4 outlook well below consensus, suggesting that the handset demand remains weak. The analyst keeps his Buy rating on Cirrus Logic longer term however, based on the company's ability to benefit from content gain opportunities at Apple (AAPL) and new design opportunities at Android manufacturers as well as ongoing proliferation of audio and voice technologies.

Alphabet (GOOGL), the parent company of Google, is scheduled to report first quarter 2024 results after the market close on Thursday, April 25, with a conference call scheduled for 4:30 pm Eastern Time. What to watch... To see the rest of the story go to thefly.com. See Story Here

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.  1... To see the rest of the story go to thefly.com. See Story Here

Apple saw sales of its iPhones fall 19.1% in the first three months of the year, CNBC's Ryan Browne reports, citing data from Counterpoint Research. Meanwhile, Huawei saw a 69.7% surge in smartphone sales in the country during the same period, Counterpoint said. Reference Link