Stephen Lam | Reuters
A man holds the Apple iPhone XS and XS Max during a product demonstration following the Apple launch event at the Steve Jobs Theater in Cupertino, California, September 12, 2018.
The chipmaker reported unaudited revenue of $431 million for the fourth quarter of 2018, barely scraping into the company’s projected range of $430 million to $470 million.
cut quarterly revenue guidance in November, citing reduced orders from a major client, presumed to be Apple. Earlier this month, Apple lowered its own revenue forecast citing weaker-than-expected sales.
Apple uses Dialog chips to extend battery life in nearly all of its iPhone models. The companies entered into a $600 million deal in October that granted Apple greater control over the technology.
Shares of Apple were trading roughly 1 percent lower ahead of the market open Monday, as the overall market fell.