It’s going to be a big year for Apple. The Cupertino giant will celebrate the 10th anniversary of its blockbuster iPhone product this fall with the release of the newest generation of its popular cellphone family.
The iPhone 8, as the new phone is logically named, is expected to feature a number of differences from the last generation of Apple phones. This bodes well for Apple customers, and its investors.
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But there’s another company poised to profit from the release of the iPhone 8. Skyworks Solutions is a chipmaker headquartered in Woburn, Mass., that makes radio frequency (RF) chips for Apple and other cellphone brands such as Samsung, as well as semiconductors for a variety of other markets, including military, automotive, industrial and medical. The company should also benefit from other consumer technology trends, as well.
Skyworks shares rose 13% in Friday trading after the company beat expectations for its first-quarter results. That was the company’s best day since 2014.
(Apple chip supplier, Qorvo, received a nice piggyback ride as well.)
Apple is Skyworks’s biggest customer, accounting for nearly 40% of the company’s revenue. So positive iPhone 8 sales would equal a big win for Skyworks’s bottom line.
