Cirrus CEO on His Apple Biz and More
There are a lot of hurdles for investors to clear in this market, what with ultra-short exchange-traded funds, high-frequency trading and hedge funds’ use of S&P 500 futures to turn individual stocks into commodities like corn or lumber. But even in this tough environment, there are still “islands of sanity,” as Cramer called them. One of the best? Apple and its derivative plays.
These are the company’s that make the components for the iPhone, iPad and iPod, and among the group Cramer thinks Cirrus Logic is the best. Cirrus, which gets a third of its sales from Apple, makes the device within a smartphone or MP3 player that coverts sounds into a transmittable data stream and vice versa while consuming less power and providing better audio quality. And with the success of Apple and its products, it’s very likely this portion of Cirrus’ business is about to get much bigger.
The stock’s up 30% since Cramer’s May 10 recommendation, but he wanted an update on Cirrus’ future potential from CEO Jason Rhode. Watch the video for the full interview.
When this story published, Cramer's charitable trust owned Apple.
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