Bull vs. Bear: Debating Payne’s investment idea today!
FBN’s Charles Payne, Shaffer Asset Management CEO Dan Shaffer and Penn Financial Group founder Matt McCall on Skyworks Solutions and debate the outlook for the markets.
Let’s talk about Skyworks Solutions (NASDAQ:SWKS).
For this company, which is a key supplier for Apple's (NASDAQ: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.