Investors Prepare for the Latest Earnings Report From an Apple Supplier

Apple (NASDAQ: AAPL) supplier Cirrus Logic (NASDAQ: CRUS) looked all set to take advantage of the iPhone maker's foray into 5G, but recent rumors have cast a shadow of uncertainty over Cirrus' ability to benefit from the expected rollout of 5G iPhones this year. There are reports that Apple may not provide EarPods in the box along with its next iPhone and that could be bad news for Cirrus, as it gets around 75% of its revenue from selling audio chips to Apple, which uses those chips in EarPods, iPhones, AirPods, and headphone dongles. Apple decided a couple of years ago to ditch the free lightning-to-3.5mm adapter that it used to include with each iPhone, hurting Cirrus' prospects.