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Why Cirrus Logic Stock Jumped Today

Why Cirrus Logic Stock Jumped Today

Shares of Cirrus Logic (NASDAQ: CRUS) have jumped today, up by 8% as of 12:15 p.m. EDT, ahead of the company's fiscal first-quarter earnings release later today. Investors are optimistic about the results following a strong earnings release last week by Apple (NASDAQ: AAPL), Cirrus Logic's largest customer. Cirrus Logic's audio chips are found in a wide variety of Apple products, and the Cupertino, California, tech giant last week reported a 10% jump in hardware product revenue.