MKM Partners analyst Ruben Roy lowered his price target on Cirrus Logic (CRU)S to $45 after the company lowered its Q3 revenue outlook citing the recent weakness in the smartphone market, which is consistent with other Apple (AAPL) supply chain peers. The analyst notes that considering Cirrus Logic's exposure to Apple, the lowered guidance should not be "much of a surprise" and anticipates the company to return to modest growth in 2020 given the content growth at existing and new customers. Roy maintains his Buy rating on the shares, stating that Cirrus Logic will be amongst the biggest beneficiaries as audio and voice technologies continue to proliferate.

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