Cirrus Logic (CRUS) is down about 3.6% in Monday’s session (March 30, 2026), with trading action consistent with a post-pop giveback: the stock surged late last week after Apple named Cirrus Logic as a partner in an expanded American Manufacturing Program, then momentum cooled as the market shifted back to near-term fundamentals. Apple’s announcement (March 26, 2026) highlighted plans to invest $400 million through 2030 tied to the supplier program, but that longer-dated catalyst is being outweighed today by a weaker risk tape and renewed scrutiny of Cirrus’s near-term demand setup. (ng.investing.com)

The key hang-up for investors is the near-term trajectory. In its February 3, 2026 shareholder communication, Cirrus guided the March quarter to revenue of $410 million to $470 million, which implies a sizable sequential decline from the prior quarter’s reported $580.6 million. That gap keeps the stock sensitive to any incremental signs of smartphone demand normalization, customer inventory digestion, or conservative ordering patterns. (s21.q4cdn.com)

Today’s move is also being amplified by a weak tone in tech, with the Nasdaq having recently slid into correction territory amid a mix of macro and risk sentiment concerns. In that environment, smaller and mid-cap semis that rallied on company-specific headlines often give back gains quickly when investors de-risk and rotate away from cyclical growth exposures. (money.mymotherlode.com)