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Cramer: Buy Skyworks Solution On Strong Earnings, Apple Partnership

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Cramer: Buy Skyworks Solution On Strong Earnings, Apple Partnership

In Thursday’s “Stop Trading” segment on CNBC, Jim Cramer took a look at the recent tech earnings from Apple suppliers.

Apple Suppliers: Cramer said companies like Qualcomm (NASDAQ: QCOM), Qorvo Inc (NASDAQ: QRVO) and Skyworks Solutions Inc (NASDAQ: SWKS) all reported strong earnings for this quarter.

All the companies have being a supplier for Apple Inc (NASDAQ: AAPL) in common: “All the excess demand is from Apple.”

Cramer said Apple is like “Fight Club” since the first rule of Fight Club is you can’t talk about it, similar to companies that have deals with Apple.

Related Link: Skyworks Solutions: Q4 Earnings Insights

Cramer on Skyworks: Cramer said Skyworks reported quarterly earnings that saw “unbelievable numbers." He said the company’s quarter may have been the best in the sector other than Qualcomm.

Skyworks said on its earnings call it couldn't make enough products said Cramer, questioning how many companies can say that right now.

Cramer said Qualcomm and Qorvo are busting out on strong earnings, but Skyworks isn't: “The idea that Skyworks isn’t at an all-time high is ridiculous.”

“Buy Skyworks Solutions,” Cramer said, calling company CEO Liam Griffin “best in show.”

Stock Performance: Skyworks Solutions shares are up 5% to $146.27 on Thursday. The company’s 52 week high is $158.61, set in October.

Qualcomm shares are up 14% to $147 on Thursday and hit a new 52 week high of $148.80 earlier in the morning.

Qorvo shares are up 11% to $147.76 on Thursday and hit a new 52 week high of $152.37 earlier in the morning.

 

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