Apple may ditch Dialog chip, analyst says; chipmaker’s shares plunge

Dialog semiconductor logo is pictured at a flag in Germering near Munich, Germany August 15, 2016. REUTERS/Michaela Rehle/Files

FRANKFURT: Dialog Semiconductor risks losing a crucial supply deal with Apple Inc, according to a financial analyst who cut his rating on the stock on April 11, sending the Anglo-German chipmaker's shares down by as much as one-third. 

Bankhaus Lampe cut its rating on Dialog to "sell" from "hold" as it argued in a research note that Apple was working on its own battery-saving chip for the iPhone that could replace Dialog's power management integrated circuits (PMIC) as early as 2019.