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Does Skyworks Solutions Inc (SWKS) Need Apple Inc. (AAPL) Anymore?

Skyworks Solutions Inc (SWKS)Skyworks Solutions Inc (NASDAQ:SWKS) used to be a decent proxy for Apple Inc. (NASDAQ:AAPL). Apple Inc. (NASDAQ:AAPL) products from iPhones to iPads ship with scores of Skyworks Solutions Inc (NASDAQ:SWKS) radio chips inside. Foxconn, Cupertino’s manufacturing partner, accounted for 27% of Skyworks Solutions Inc (NASDAQ:SWKS)’ revenue in 2011 and 29% in 2012. It’s no wonder that the two stock charts stuck together like meatballs and potatoes as Cupertino’s mobile strategy took shape.

AAPL Chart

AAPL data by YCharts

But a funny thing happened in 2013. Skyworks shares have largely detached from Apple and started treading their own path. So far this year, Apple Inc. (NASDAQ:AAPL) investors are down 20%, while Skyworks Solutions Inc (NASDAQ:SWKS) tracked close to the S&P 500‘s 18% return.

AAPL Chart

AAPL data by YCharts

Skyworks underscored this newfound independence with its third-quarter earnings report on Thursday night. The quarter itself wasn’t spectacular — Skyworks largely met analyst expectations on both the top and bottom lines — but the company sees a strong second half to the 2013 calendar year. “We have good visibility for December because a number of phones and smartphones and tablets in that segment of our business, you will be seeing new platforms hitting the market,” said CEO David Aldrich. “We think the market will be up in December. We think we’ll be up more than the market, and we can identify those programs today.”

Skyworks Solutions Inc (NASDAQ:SWKS) shares responded with a 6.4% surge in Friday trading, but investors didn’t take Aldrich’s comments as good news for Apple. Cupertino’s shares sagged 1.6% on Friday, setting the stage for a gloomy Apple Inc. (NASDAQ:AAPL) report next week. Skyworks can get by just fine without Apple Inc. (NASDAQ:AAPL) propping the company up, particularly since global smartphone leader Samsung has become a more important component of Skyworks’ sales.

This company prides itself on making custom solutions for every client, often delivering single chips to perform the functions of multiple rival processors. That’s how you land massive customers like Samsung and Apple Inc. (NASDAQ:AAPL), and why I believe that Skyworks will remain at the helm of the mobile revolution no matter which company owns the next era of handsets, tablets, wristwatches, or connected tooth fillings. There’s always a place for top-shelf components, and Skyworks Solutions Inc (NASDAQ:SWKS) knows how to step up to customer demands.

Don’t just take my word for it. Your fellow investors generally agree with my bullish CAPScall on this stock, giving Skyworks a perfect five-star rating out of five. All-star CAPS player zk116 describes Skyworks’ promise this way (and I agree): “It is always hard to say if this is the bottom, but I believe earnings will force the stock upward over time.”

The article Does Skyworks Need Apple Anymore? originally appeared on and is written by Anders Bylund.

Fool contributor Anders Bylund holds no position in any company mentioned. Check out Anders’ bio and holdings, or follow him on Twitter and Google+. The Motley Fool recommends and owns shares of Apple.

Copyright © 1995 – 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

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