Cirrus LogicNASDAQ: CRUS

Cirrus Logic delivered better-than-expected results last quarter that crushed Wall Street's expectations. Apple is the company's largest customer, and that could be a good thing for Cirrus as the tech giant's iPhone sales are expected to improve thanks to AI.

Fabless semiconductor company Cirrus Logic, Inc. (CRUS) develops mixed-signal processing solutions, but its stock performance is anything but mixed – it's thriving – especially over time.

Cirrus Logic confirms ASP increases with new iPhones in September and expects continued ASP growth over the next few years. Revenue for June is expected to range between $290 million and $350 million, with a non-GAAP tax rate of 23%, but our upgraded estimate is over $360 million. CRUS stock predicts significant revenue growth from camera controls, codec/amplifiers, PCs, and power management in the future.

Cirrus Logic (CRUS) reported earnings 30 days ago. What's next for the stock?

Cirrus Logic's (CRUS) performance benefits from the rapid adoption of its product portfolio.

Many investors are on the lookout for breakout stocks that have the potential to provide significant returns. In the information technology sector, three businesses have caught the attention of investors as promising opportunities for substantial gains.

AUSTIN, Texas--(BUSINESS WIRE)--Cirrus Logic, Inc. (Nasdaq: CRUS) announced today that its Chief Financial Officer (CFO), Venk Nathamuni, will be resigning on May 24, 2024, to pursue a new opportunity outside of the semiconductor industry. To ensure a smooth transition while a search for a new CFO is conducted, the Company's Board of Directors has appointed Ulf Habermann, Principal Accounting Officer, as interim CFO upon Mr. Nathamuni's departure. Mr. Habermann has been with the company for 22 years.

Overall, it's certainly great for investors that we've entered the phase of the bull market in which nearly everyone is becoming much more upbeat about stocks. After all, it's obviously much easier to make money now in the market than it was last year and many times easier than was the case in 2022.

Cirrus Logic (CRUS) reported earnings 30 days ago. What's next for the stock?