Another stock from our AI-powered strategies is rallying after solid earnings beat

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, experienced a significant pre-market surge in share price, climbing over 9% today.

This impressive uptick follows the company's announcement of its Q3 financial results, which notably exceeded analyst expectations.

Cirrus Logic 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. As a matter of fact, 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%.

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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