The shares of Analog Devices, a company known for making chips, has went down by $1.03, or 2%, at $49.47, as a result of the revenue outlook cut for its January-ending fiscal Q1. The company has further noted "weakness in its 'portable' products division, which most on the Street take as equating to the company's sales to smartphones, and especially Apple's iPhone."

According to Barrons, many have observed that Analog Devices' revenue from Apple's iPhone 6s is "immaterial" in the overall company total:

We estimate that ADI's iPhone units will decline to 12mn units in FQ1 based on an ASP of $2.50. And we estimate shipments declining to 10mn in FQ2, implying iPhone Force Touch related revenue of $25mn, or 3% of revenue. This is down substantially from our estimate of $349mn in FY15.

Other businesses that are under ADI appear to be holding up well especially because the foundation is on automotive, industrial and communication infrastructure.

Christopher Danely of Citigroup said: "As we stated in our Jan 13 earnings preview, we expected weakness from the handset end market as Apple was cutting order rates and stated it could negatively impact ADI. We believe ADI revenue from the iPhone is less than $10.0 million, down over 90% QoQ. [...] Still like ADI stock, back to where it was before Apple. Despite the weakness, we reiterate our Buy rating on Analog Devices as we believe the Apple business will rebound, ADI stock is trading at 16X C16 EPS, and the stock is back below where it was before the design win in the iPhone. We estimate Apple could contribute $0.32, or 10%, of C16 EPS."

Furthermore, Tore Svanberg of Stifel Nicolaus said: "The weakness is said to have begun in the December quarter and is expected to persist into the company's July-ending second fiscal quarter [...] We believe the key drivers for ADI's long-term growth and profitability remain Industrial, Automotive and traditional Hittite business. Even with a reset in ADI's consumer business, we note that our FY16 revenue estimate still shows good growth from the pre-Apple, FY14 revenue level."