The stock price of Cirrus Logic (NASDAQ: CRUS) is down 20% so far in 2022, but shares of the chipmaker have started gaining some momentum this month thanks to a rally in semiconductor stocks.

The PHLX Semiconductor Sector index is up 9% in July 2022, and Cirrus stock has tagged along with gains of 6% so far this month. The company, which is known for supplying audio and power-management chips to smartphone giant Apple (NASDAQ: AAPL), could get a nice shot in the arm in a couple of weeks when it releases its fiscal 2023 first-quarter results on Aug. 2.

Let's see why that might be the case.

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Source Fool.com