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Cramer: Apple Crushed Earnings, And These 3 Stocks Are Along For The Ride

Cramer: Apple Crushed Earnings, And These 3 Stocks Are Along For The Ride

Apple Inc. (NASDAQ: AAPL)'s earnings report on Tuesday was a "thing of beauty" and helped push the stock to all-time highs, CNBC's Jim Cramer said during his daily "Mad Money" show.

For the better part of the past year, many investors had been questioning if Apple's best days have passed, Cramer noted. But where are these nay-sayers today? Investors who missed out on Apple's bull run, or those who traded Apple's stock instead of owning it, are now missing out on 60 points of profit.

But investors who are still intimidating by the iPhone maker's stock, which is trading at an all-time high could consider instead these three picks that are not only along for the ride but are set to be "propelled to the stratosphere."

First on Cramer's list is Cirrus Logic, Inc. (NASDAQ: CRUS), a provider of integrated circuits for audio and voice signal processing applications. The stock is up 11 percent since the start of 2017, and Apple's strong earnings report and encouraging guidance helped add another 3.5 percent by Wednesday morning.

Second is Skyworks Solutions Inc (NASDAQ: SWKS), a semiconductor company whose analog devices connect people, places and things. The company has benefited as being a key part of Apple's supply chain, and the stock is up 40 percent per year and an additional 2.50 percent Wednesday morning.

Last, and "most important" is Broadcom Ltd (NASDAQ: AVGO), a company that is reportedly working with Apple to develop a wireless charging station for future iPhones.

At last check in Wednesday's pre-market session:

  • Apple shares were up 6.04 percent at $159.16.
  • Broadcom was up 2.66 percent at $255.
  • Cirrus Logic is up 3.92 percent at $65.55.
  • Skyworks is up 2.02 percent at $106.39.

Related Links:

Oaktree's Co-Chairman On FAANG Stocks: Valuations Are High But Coming Down

FAANG Stocks Will Remain Hot


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