Apple supplier Skyworks stock is a screaming buy right now

Apple Skyworks Solutions’ content gains in premium smartphones helped it achieve solid results last quarter. Harsh Chauhan writes for The Motley Fool that the chip maker’s largest customer could drive healthy growth in the second half of the year as Skyworks’ attractive valuation, solar outlook and solid dividend make it a worthwhile stock. buy”.

Skyworks Solutions Logo

Duro Chauhan for The Motley Fool:

Skyworks posted record third-quarter revenue of $ 1.23 billion, up 10% from the prior-year period. The chipmaker’s non-GAAP (adjusted) earnings increased 13.4% yoy 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 into 5G-enabled premium smartphones, along with growth in the automotive, data center and network infrastructure industries,” as CEO Liam Griffin pointed out in latest earnings conference call.

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

Although Skyworks did not discuss its relationship with Apple in the latest earnings call, the company’s indication that it is seeing “content expansion into 5G-enabled premium smartphones” suggests it may be on track to win more business. in the next iPhones.

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

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

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