Shares of Chipmaker Cirrus struck after Apple's no lightning-to-headphone jack adapters in older iPhones

Last Updated: Fri, Sep 14, 2018 16:42 hrs
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Apple's confirmation on its official website that it would no longer include lightning-to-headphone jack adapters has left shares of chipmaker Cirrus struck.

Shares of Cirrus traded down 3.46% to $39.46 a share after a report from Barclays said that Apple's move would hurt the audio chip maker.

Apple's confirmation spotted by enthusiasts who said there was no mention of Apple shipping out lightning to headphone adapters on its website, meant a sell-out for Cirrus.

In fiscal 2018, Apple accounted for about 81% of Cirrus total sales.

Barclay's Analyst Blayne Curtis was reported in news reports saying that while Apple got Cirrus dongles moved out of current generations, having them removed from older ones was an "additional negative" to Cirrus.

Apple on Wednesday had confirmed that it's latest models- Xr, Xs, and Xs Max will not ship out with a bundled Lightning to Headphone adapter.

The company's first experimentat of a phone without a headphone jack was the iPhone 7. In order to avoid user outrcy, Apple shipped out an adapter to fit 3.5 mm headphones with iPhone 7 boxes.