InvenSense (NYSE:INVN) shareholders have been disappointed with the company for a while now. Over the past 12 months the company's share price has slide more than 50%, and there's not much for investors to look forward to right now.
The company found out last year that it didn't earn a spot in the Apple (NASDAQ:AAPL) Watch, even though InvenSense's motion sensors were in nearly all of the smartwatches on the market at the time. InvenSense already supplied motion sensors for Apple's iPhones when the Apple Watch launched, which made many question why the company couldn't grab Apple's wearable tech business as well.
And things have gotten worse for InvenSense as of late. The company's stock has taken another tumble recently as reports of slowing iPhone demand have surfaced. Apple is InvenSense's biggest customer, so any iPhone slowdown directly impacts the motion sensor company.
On top of that, InvenSense's second largest customer, Samsung (NASDAQOTH:SSNLF), likely won't be using InvenSense's sensors in the next Galaxy S device. All of this adds up to some pretty bleak prospects for InvenSense.
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Chris Neiger has no position in any stocks mentioned. The Motley Fool owns shares of and recommends Apple and InvenSense. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.