Posted 2/8/2024, 2:45:00 PM
Cheaper Chipmaker Skyworks Poised to Ride Generative AI Wave Despite Apple Reliance
- Nvidia stock has surged due to high demand for its AI and graphics chips, but some may think it's too expensive now
- Chipmaker Skyworks Solutions trades at a cheaper valuation and could benefit from adoption of generative AI smartphones
- Skyworks relies heavily on Apple, which is poised to capitalize on fast-growing generative AI smartphone market
- Analysts estimate Skyworks' revenue and earnings will start growing again in 2025 and 2026
- At 18X earnings, Skyworks stock could jump 87% to $189 in 2026 if earnings estimates are met