Apple supplier Skyworks stock is a screaming buy right now

Apple supplier Skyworks Solutions’ content gains in premium smartphones helped it deliver solid results last quarter. Harsh Chauhan writes for The Motley Fool that the chipmaker’s largest customer could drive healthy growth in the second half of the year as “Skyworks’ attractive valuation, sunny prospects, and solid dividend make it a stock worth buying.”

Skyworks Solutions logo

Harsh Chauhan for The Motley Fool:

Skyworks reported record fiscal Q3 revenue of $1.23 billion, up 10% over the prior-year period. The chipmaker’s non-GAAP (adjusted) earnings increased 13.4% year over year to $2.44 per share, better than analysts’ expectations of $2.35 per share.

The company’s robust year-over-year growth was driven by “content expansion in premium 5G-enabled smartphones, along with growth in automotive, data center, and network infrastructure,” as CEO Liam Griffin pointed out on the latest earnings conference call.

Apple is the company’s largest customer. The iPhone maker accounted for 59% of Skyworks’ revenue in fiscal 2021.

Though Skyworks didn’t discuss its relationship with Apple on the latest earnings call, the company’s indication that it is witnessing “content expansion in premium 5G-enabled smartphones” suggests that it may be on track to win more business in the upcoming iPhones.

MacDailyNews Note: Skyworks’ stock symbol is SWKS. Read more in the full article here.

Beloved interns, please, please, please TTK! Prost, everyone! 🍻🍻🍻

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  1. Maybe so, but I’ll just leave my money in AAPL. I was able to add on at a great price recently, so I’m content to hold it for years to come. Something tangential to that feels like too many eggs in the same basket.

  2. And who remembers who was recommending GT Advanced Technologies back in the day?

    In any event, while SWSK might be an interesting tech stock with a P/E of 14 and a 2% dividend, since AAPL is its main customer, if one also owns AAPL, then this stock doesn’t represent diversification of risk no matter how good it is.

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