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Is It Time to Sell This 5G Stock?

TheMotleyFool

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Cirrus Logic's (NASDAQ: CRUS) fortunes are tied closely to smartphone giant Apple (NASDAQ: AAPL), as the former gets a huge chunk of its revenue by supplying audio chips to a variety of iOS devices.

That's why the chipmaker looked all set to take advantage of Apple's entry into the booming 5G smartphone market this year. However, Cirrus' latest report for the first quarter of fiscal 2021 and the forward-looking guidance for the current quarter cast doubt over the company's ability to benefit from 5G smartphones.