Is It Too Late to Get On the Skyworks Ride?
Skyworks Solutions (NASDAQ: SWKS) makes semiconductors and radio-frequency hardware for the wireless communications market. The launch of 5G and the rise of ubiquitous connectivity are major demand drivers for the company, which is well-positioned to benefit from these trends.
The tech stock climbed as high as $115 in early 2018, but concerns over trade wars and revenue stability drove shares down to $60 by January 2019. Namely, a ban on the sale to China's Huawei created substantial concerns, since Huawei was a major customer of Skyworks. The stock has since had a volatile year bouncing around between $95 and $65, but a recent break out of that range has seen shares leap to $101.60. The company's November 2019 full, fiscal-year earnings report helped maintain the optimism, with results that outpaced analysts' estimates.
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Source Fool.com
