Cirrus Logic Surging (CRUS, AAPL)

Shares of Cirrus Logic CRUS are surging once again today on strong volume. Cirrus, a smart grid technology and sound-chip company, has attracted a lot of attention as an Apple AAPL derivative play. Apple is a large customer for Cirrus and its fortunes are tied to the iconic iPhone and iPod maker. The stock is up 50 cents, or 3.05%, to $16.88 on the day. Shares earlier traded as high as $17.25. Volume has also been heavy, with more than 4.2 million shares already traded versus the 6.5 million daily average. For those looking to play Apple, but wary of its valuation, Cirrus may indeed be the craftier play at this point.