The massive upgrade cycle kicked off by 5G mobile networks has not been enough to spare Skyworks Solutions (NASDAQ: SWKS) from the bear market of 2022. The company sustained its growth as mobile networking continues to advance, but shares are nonetheless down more than 50% from all-time highs in 2021.  

Skyworks has been investing heavily to update its business for a new decade of growth in mobile communications, and profitability could be poised for a big rebound as a result. Is this chipmaker still a buy?

Skyworks Solutions is a chip designer and manufacturer, particularly for mobile connectivity. The smartphone boom of the 2010s put the company on the map, and to this day, Apple (NASDAQ: AAPL) remains a top customer. In the third quarter of fiscal 2022 (the three months ended on July 1), management said its "largest customer" (Apple) accounted for 55% of revenue. Samsung was the other big customer, accounting for 10% or more of total sales.  

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Source Fool.com