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The Boston Globe

Business

Cirrus Logic stock slumps

The Austin, Texas, audio chipmaker posted better-than-expected second-quarter results and gave a bullish outlook for the December quarter as it benefits from strong sales to its top customer, Apple Inc., for chips used in iPhones, iPads, and other devices. But shares slumped as investors expressed concerns about falling profit margins. Cirrus cited higher than usual production costs.

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