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Why the Sky Is the Limit for This Stock

Let’s talk about Skyworks Solutions (SWKS).

For this company, which is a key supplier for Apple's (AAPL) iPhone, I think the sky is the limit. The company reported earnings recently, and they just simply blew the cover off the ball.

The slacking market has pulled it down a little bit, but I think that’s great, it gives you a nice entry point. Its chips are used in smartphones, tablets, WiFi, wireless, aerospace, smart energy, medical, RFID (which is the radio frequency thing I’m always talking about) and test and measurement equipment.

When I first recommended this stock, Wall Street was cautious at the time. Now, after the earnings report, EVERYONE is jumping on the bandwagon. And even though that usually makes me nervous, I still like the stock.

I’m looking for it to break through $57, from there I think it’s got room at least to $65. Last time my target was $60, so I’m moving my target up.

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CHARLES N N Y N
MATT N N N N
DAN N N N N

 

Charles Payne is the host of Making Money with Charles Payne (weekdays 6-7 PM/ET). Click here to see more from Charles Payne.