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•82% Informative
Apple accounted for 87% of Cirrus Logic's top line in fiscal 2024 .
Apple 's iPhone sales are expected to pick up pace as the year progresses, thanks to the proliferation of AI .
Apple is expected to release iPhones with AI -capable chips this year , which would allow Cirrus to tap another potentially lucrative market.
Cirrus Logic trades at 26 times trailing earnings right now, a discount to the Nasdaq-100 's trailing earnings multiple of 32 .
Cirrus' earnings accelerated nicely in the previous quarter , and the company could sustain that trend with Apple 's help.
As such, there is a good chance that Cirrus may be able to add to the already impressive gains it clocked in 2024 .
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