Chipmaker Dialog plunges further on fears Apple could go it alone

Shares in Dialog Semiconductor dropped about 24 percent on Monday after the company acknowledged for the first time that its top customer Apple Inc could develop its own battery-saving chips used in iPhones. The stock has lost half its value since April on investor concerns that Apple is working on its own power chips.

Analysts reckon Dialog derives more than half its revenue from supplying Apple with power management integrated circuits (PMICs). Dialog said there was no risk to its existing supply deals in 2018 and it was in the.

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