Why Skyworks Solutions Stock Jumped 11.7% in October

Shares of Skyworks Solutions (NASDAQ: SWKS) popped by 11.7% in October, according to data provided by S&P Global Market Intelligence, after JPMorgan released an investor note indicating that the company's revenues will increase because it secured more design wins in Apple's iPhones.

JPMorgan analyst Bill Peterson wrote that Skyworks and its competitors -- Broadcom and Qorvo -- could see double-digit revenue growth over the next year as they benefit from sales of the new iPhones. Peterson said:

We continue to believe the "Big 3" of Broadcom, Skyworks and Qorvo are well-positioned to benefit from dollar content gains in this year's iPhone models and gain further content over the next few years and drive near double-digit revenue growth over the next 12-18 months.

Source: Fool.com