This Apple Supplier Is Winning Big from the iPhone 12
Uncertainty surrounded Cirrus Logic (NASDAQ: CRUS) going into its fiscal 2021 second-quarter earnings report, thanks to Apple's (NASDAQ: AAPL) rumored decision to remove included EarPods from the retail box of the new iPhone 12 devices, but the chipmaker has since put those concerns to rest.
The audio-codec specialist issued its Q2 report, crushing Wall Street's estimates by huge margins. It also issued terrific guidance that calls for a huge year-over-year jump in the company's top and bottom lines. That looked unlikely a month ago, as Cirrus relies on Apple for a huge chunk of its revenue and it could have lost big because of the iPhone maker's move of not bundling free earphones. But that hasn't been the case thanks to the initial success of the iPhone 12 series.
Image source: Getty Images.
Source Fool.com
