The Apple iPhone 14, iPhone 14 Pro, and iPhone Pro Max on sale at the company's Fifth Avenue store in New York, US, on Friday, Sept. 16, 2022.
Photographer: Jeenah Moon/Bloomberg via Getty ImagesApple supplier Cirrus Logic's shares fell about 12% early afternoon Wednesday after a report from analyst Ming-Chi Kuo said that the upcoming iPhone 15 Pro won't use Cirrus' haptic touch technology as heavily as initially expected.
Cirrus' technology and parts help power Apple's haptic touch systems, which have been used to replace physical buttons, like the home button on some iPhones, with touch-sensitive buttons that mimic the way a button push feels.
Cirrus' relationship with its "largest customer," widely acknowledged as Apple, provided around 88% of its revenue for the most recent quarter.
Kuo had previously said that Apple would expand its use of Cirrus' technology beyond haptic touch and replace the physical volume buttons with solid-state technology.