Don't Forget to Buy This Top Growth Stock in May
Skyworks Solutions (NASDAQ: SWKS) investors weren't impressed by the company's fiscal second-quarter results. Shares of this Apple (NASDAQ: AAPL) component supplier fell sharply after the earnings report was released late last week -- which is a tad surprising, as the company beat Wall Street's expectations and issued solid guidance.
Investors still confident in this company's potential might want to use the sharp pullback as an opportunity to buy more shares of Skyworks Solutions. Here are a few simple reasons why.
Skyworks' revenue shot up 53% year over year in Q2 to $1.17 billion, while non-GAAP earnings jumped 77% over the prior-year period to $2.37 per share. Those numbers bested analysts' expectations of $2.35 per share in earnings on revenue of $1.15 billion. As expected, the terrific growth in Skyworks' top and bottom lines was driven by the growing demand for 5G smartphones across the globe, and solid momentum in the Internet of Things (IoT) market.
Source Fool.com
