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20.05.2019 04:31:00

Cirrus Logic Still Has Work to Do

Best known for supplying audio chips to Apple, chipmaker Cirrus Logic's (NASDAQ: CRUS) stock has shot up remarkably in 2019 despite a couple of terrible quarterly reports.Weak iPhone demand weighed heavily on Cirrus Logic earlier this year, as the company relies on Apple for a big chunk of its revenue. The story was repeated once again this month when Cirrus released its fiscal fourth-quarter results, revealing a massive drop in the top and bottom lines.But all of that hasn't dented investor confidence in Cirrus stock, with shares up roughly 45% year to date as of this writing. Investors seem to like that the company has finally started pulling the right strings to diversify its business.Continue reading
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