Another stock from our AI-powered strategies is rallying after solid earnings beat
Investing.com | Author Davit Kirakosyan
Published Feb 07, 2024 06:00AM ET
Investing.com — Cirrus Logic (NASDAQ:CRUS), a leader in low-power, high-precision mixed-signal processing solutions that create innovative user experiences for the world’s top mobile and consumer applications, has been surging since posting better-than-expected Q3 financial results.
The company reported Q3 EPS of $2.89, better than the consensus estimate of $2.01. Revenue came in at $619 million, beating the consensus of $540.07M. Looking ahead to Q4 of fiscal year 2024, the company expects revenue to be in the range of $290-$350M, compared to the consensus estimate of $332M.
CRUS' extraordinary performance was seen in advance by our AI-powered stock-picking toll: ProPicks - exclusive for InvestingPro users.
The company had been added by our predictive AI tool to the Mid-Cap Movers strategy at the beginning of the month - since when the stock rallied a solid 12%.
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Cirrus Logic's earnings beat is the latest from a series of above-average financial performances seen ahead by our predictive AI tool, which includes (just to name a few recent ones):
- DEXX Laboratories (NASDAQ:IDXX)
- Meta Platforms (NASDAQ:META)
- Super Micro Computer (NASDAQ:SMCI)
- PACCAR (NASDAQ:PCAR)
- American Express (NYSE:AXP)
And these are just a few stocks from a robust selection of 70+ companies distributed across six market-beating strategies. The true key to ProPicks' outperformance is the resilience of our carefully curated list of winners—not solely reliant on individual picks.
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Written By: Investing.com
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