Cirrus Logic joins Apple in rallying following China Mobile deal

|About: Cirrus Logic, Inc. (CRUS)|By:, SA News Editor

With Cirrus Logic (CRUS +2.9%) widely believed to get over 3/4 of its sales from Apple (largely from iPhone/iPad-related orders), it comes as little surprise the chipmaker's shares are joining Apple's in trading higher following news of a multi-year Apple/China Mobile deal.

Some analysts think the deal could produce an additional 20M+ annual iPhone sales. Cirrus stands to profit from each one, via audio codec and amplifier chip shipments.

Shares fell last month after Barclays reported the iPad Air doesn't contain a Cirrus audio amplifier (though it does use a Cirrus audio codec), and stated Apple might stop using Cirrus amplifiers altogether.