Plantronics Plunges On Fears Supply Chain Issues Could Hurt Results By Investing.com
By Dhirendra Tripathi Investing.com – Plantronics (NYSE:PLT) shares plunged 24% as a weak guidance and supply chain bottlenecks spooked traders. Absent supply shortages, the company said it believes demand would support sequential revenue growth after the March quarter. But the lack of available components like chips that go into its products could play spoilsport. It thus forecast numbers that are sequentially lower. The company forecast GAAP net revenues in the June quarter to come between $410 million and $430 million, down almost 10% to nearly 14% from the $476 million it clocked in the March quarter....
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