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What: Shares of fabless semiconductor company Cirrus Logic
So what: Cirrus, which makes audio technology for Apple's
Now what: As goes Apple, so goes Cirrus. The company currently relies on Apple for roughly 70% of its revenue, so the huge boost can only mean one thing: The iPhone 5 release is going to be huge. Either Cirrus has added to its impressive license wins with the iPhone 5 or it's been chosen for the iPad Mini. Regardless of whether it's one, the other, or both, this is another reason to be excited about Cirrus Logic. It's leading the field in audio innovation (amplifiers, noise suppression, and echo cancellation) and that's translating into big bottom-line results.
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Fool contributor Sean Williams has no material interest in any companies mentioned in this article. You can follow him on CAPS under the screen name TMFUltraLong, track every pick he makes under the screen name TrackUltraLong, and check him out on Twitter, where he goes by the handle @TMFUltraLong.
The Motley Fool owns shares of Apple and Cirrus Logic. Motley Fool newsletter services have recommended buying shares of, and creating a bull call spread position in, Apple. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.