Jim Cramer Discusses These 11 Stocks & President Trump

9. Skyworks Solutions, Inc. (NASDAQ:SWKS)

Number of Hedge Fund Holders In Q3 2024: 31

Skyworks Solutions, Inc. (NASDAQ:SWKS) is a semiconductor company that sells chips such as power management and signals management processors. Its biggest customer is Apple, which means that if the iPhone’s sales drop or if investors worry about Apple finding alternatives, then Skyworks Solutions, Inc. (NASDAQ:SWKS)’s shares also struggle. A slowdown in the industrial and smartphone industries has also dragged down the firm’s shares. Cramer commented on the latest drop of 24.6% after management disclosed during the earnings call that it expects a lower “content position” for a major customer:

“Yeah and Liam Griffin is doing such a great job, has been there for ages. . . .Skyworks has a huge percentage of Apple’s business. Now remember, Apple’s like Fight Club, you can’t mention in the conference call, just say a large client. . . .but that’s just devastating at Skyworks, very very good for Broadcom and this is just Hock Tan just coming, every cylinder. But David you know when you have one client, it is just a very rough thing.”

“I think that one of the things that the company may regret is, you know they’ve got some Samsung business, but they needed to far. . . .when we see these companies like NXP, okay, NXP they say is autos, but it also has near field communications. Texas Instruments has got IoT and it also has autos. You need something else in order to make it so that if you do lose the greatest customer in the world, and they didn’t lose it, they just lost some of it, then you have what this is. By the way, Liam Griffin is a liked person. He’s out in two weeks he didn’t answer the calls, he didn’t answer the questions at the conference call. So, it was disconcerting. I found the whole thing disconcerting.”