Cirrus Logic, Inc. (NASDAQ:CRUS) Q2 2024 Earnings Call Transcript

Ananda Baruah: And then on the PC opportunities that you spoke about a few moments ago. Yes — like HP is talking about in the next handful of years, 40% eventually of their PCs and laptops shipping what they’re calling AI-enabled processing. Dell is probably in the similar ballpark. So folks like that. Do you — is that captured that kind of AI capability in PCs and laptops. Is that already captured in your thought process? Or would that provide kind of incremental content opportunity with that kind of AI enablement?

John Forsyth: I’m not sure how that intersects quite with our current laptop-focused product portfolio. It may be that it does. We know, of course, the typical AI use cases burn a lot of power. So anything we can do to increase power efficiency across the system is obviously going to be a benefit. But what I would say more broadly is I think anything that makes laptops more interesting and more of a vector for innovation and more of a focal point for improving the user experience is likely to benefit us in general.

Chelsea Heffernan: And with that, we will end the Q&A session. I will now turn the call back over to John for his final remarks.

John Forsyth: Thank you, Chelsea. So in summary, Cirrus Logic delivered revenue toward the top end of our guidance for the second quarter and made solid progress across each of the three key areas of our strategy. We’re excited about the opportunities in front of us, and we thank you for your continued interest in Cirrus Logic. In addition, I’d also like to thank the entire Cirrus Logic team, whose commitment to disciplined execution and to bringing innovation to bear on the challenges that our customers are addressing is ultimately what enables us to deliver strong results. Before we close, I’d also like to note that we will be participating in the Barclays Conference on December 6 in San Francisco. Please check our investor website for the details. Thank you all for joining our call today.

Operator: This concludes today’s conference call. You may now disconnect.