Older iPhones may lose dongles, move to hurt chip supplier Cirrus - Barclays

Apple Inc`s older iPhones would no longer include lightning-to-headphone jack adapters, the company`s website showed on Thursday, which according to Barclays would hurt audio chip supplier Cirrus Logic .

Shares of Cirrus, which makes analogue chips used in Apple devices, fell 3.8 percent to $39.46. In fiscal 2018, Apple accounted for about 81 percent of Cirrus total sales. 

Cirrus did not immediately respond to request for comment and Apple declined to comment. 

Comparing the iPhone 7 and iPhone 8 pages from last week to today, Barclays analyst Blayne Curtis wrote in a note he had found that Apple "will remove the dongle (~$1.00 CRUS content) from its entire suite of phones." 

"While CRUS did admit the dongle was out in current generations, it`s an additional negative that they are also removing the dongle from the older products," Curtis said.

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Apple introduced three new iPhones, including its largest-ever iPhone and a watch that detects heart problems on Wednesday.