Shares in Apple supplier Dialog Semiconductor slipped despite a record third quarter and positive guidance for the year.
Revenue came in at $363m in the third quarter to the end of September, up five per cent on the same period last year and in line with forecasts.
The UK-based German chipmaker said underlying operating profit was up four per cent to $76.6m.
Gross margin of 46.9 per cent was slightly up on July's forecast.
For the fourth quarter, it forecast revenue of between $415m and $455m that would push full-year sales up 11 per cent on the previous year to $1.3bn.
Shares opened around six per cent lower on the Frankfurt stock exchange.
Why it's interesting
Dialog has been among the chip firms to get a boost from Apple's launch of the iPhone X and iPhone 8 in recent weeks. After some worry around maunfacturing delays, there's been strong demand for the devices, though investors may likely be disappointed that this has not had a bigger effect on Dialog's bottom line.
What Dialog said
“Q3 2017 was a record Q3 quarter, with year-on-year revenue growth and gross margin ahead of our July guidance," said chief executive Jalal Bagherli.
"Mobile systems delivered robust sequential revenue growth and connectivity posted record quarterly revenue, as we continue to capitalise on strong demand for power management and power efficient technologies."