Will Cirrus Logic Investors Like Its Next Earnings Report?
Shares of Cirrus Logic (NASDAQ: CRUS) have underperformed the broader market this year due to speculation that it could lose business from Apple (NASDAQ: AAPL) after a few other component suppliers lost their lucrative contracts with that company. Cirrus relies on Apple for almost 80% of its revenue, so the speculation has taken its toll despite the company's reporting terrific fiscal fourth-quarter results around three months ago.
However, Cirrus' fourth-quarter results clearly indicated that it is diversifying away from Apple. A repeat performance in the upcoming fiscal first-quarter results, which will be released after the market closes on Aug. 2, should build up investor confidence. Here's what investors can expect from the company's upcoming report.
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Source: Fool.com
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