The Meteoric Rise of an AI Chipmaker Thanking Its Major Customer

With artificial intelligence (AI) integration in smartphones accelerating, one particular chipmaker's stock has surged 69% in 2024, tapping into the burgeoning market. This growth comport can largely attribute its success to its largest customer, a tech titan known for leading innovation in consumer electronics. Consider the impressive 2024 climb just a starting point; projections indicate that the stock's trajectory could continue its ascent.

The Driving Force Behind the Chipmaker's Success

This is the era of AI, where its implementation in devices such as smartphones is no longer a luxury but a necessity. Tapping into this trend, our highlighted chipmaker – whose stock symbol is CRUS – stands in a prime position to benefit from this technological movement. Their largest customer, AAPL or Apple Inc., remains a dominant force in the tech industry. As this multinational giant rolls out AI-powered features in its products, the dependency on sophisticated AI chips increases, ensuring a steady demand for CRUS's specialized semiconductors.

Apple's Heft in the Tech World and Its Impact

Apple Inc. has firmly established itself as a leader in the tech space, as suggested by its position as the world's largest technology company by revenue and one of the most valuable companies globally. With its reach extending to PC and smartphone manufacturing, its decisions influence the entire supply chain, including that of its suppliers like CRUS. Apple's commitment to incorporating AI into its line-up of smartphones suggests a sustained uptrend for CRUS given the former's market influence and consistent pursuit of innovation.

Cirrus Logic: A Snapshot of Prowess and Promise

Cirrus Logic, Inc., more than just a supplier, is a notable player in the realm of high-precision, low-power mixed signal processing solutions. With their main operations in the US and a strong international presence, their focus on innovation and delivering proprietary technology gives them leverage. This is especially true as demands for AI capabilities in consumer electronics continue to climb. This places CRUS in an enviable position to continue capturing market share, thereby driving their stock value consistently upward.

Investment, AI, Chipmaker, Smartphones, Apple, CirrusLogic, Technology, GrowthStock