Cirrus Logic, Inc. (CRUS) Riding High On Strong Apple Inc. (AAPL)’s iPhone Demand

Cirrus Logic, Inc. (NASDAQ:CRUS) has been surging in the market mostly driven by the impressive sales of iPhones as the company makes audio integrated circuits used in Smartphones. The impressive run in the market has already caught the attention of Fox Business, Charles Payne, who believes the stock could clock highs of $38 share in the near future.

Cirrus Logic, Inc. (NASDAQ:CRUS)

Improving fundamentals from a technical perspective make Cirrus Logic, Inc. (NASDAQ:CRUS) a worthy investment as a medium term trade according to Brudeman Brothers CEO, Oliver Pursche.

Payne is betting big on the stock despite it being extremely volatile. Cirrus biggest customer for its products is Apple Inc. (NASDAQ:AAPL), which means it will continue to generate impressive earnings on strong demand for iPhones.

“Over the last four quarters execution has been amazing. Blowing the street away, fiscal year estimates for the next fiscal year, which is  March year have been going higher and higher.[…] This name through $31 in my mind probably has a pretty easy move to $34, $35, I think it can even go to$38. Obviously very volatile but I do like a lot this one

NewOak Capital President, James Frischling, however, notes it is always a risky affair to have Apple as the biggest customer because if something goes wrong a business can be immensely affected by a lack of orders. Frischling, however, notes that on a good business relationship, Apple Inc. (NASDAQ:AAPL) should drive irrus Logic, Inc. (NASDAQ:CRUS) even higher going forward.

Cirrus Logic, Inc. (NASDAQ:CRUS) has been operating in mystery with an upcoming conference according to A&G Capital President, Hilary Kramer, expected to shed more light on its dealings with Apple Inc. (NASDAQ:AAPL), which should help improve sentiments.

“March 5, the CEO and president is presenting at the Morgan Stanley (NYSE:MS) Internet telecom technology conference. I think there is going to be some questions, what do you really do what is the semiconductor that you really provide to Apple Inc. (NASDAQ:AAPL)? So there is some mystery around that,” said Mrs. Kramer.

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