Cramer Effect: Skyworks Solutions

Skyworks Solutions (SWKS: 24.28 0.00%) fell 2.4% on Thursday after failing to get any lift from the “Cramer effect” despite a bullish recommendation on Wednesday’s Mad Money show. Host Jim Cramer urged investors that despite the excessive pessimism in the markets today, the mobile internet tsunami is still going strong.

Cramer has been bullish on Skyworks Solutions for over a year and has seen to stock rise 208% since his initial buy recommendation. The make of smartphone power amplifiers recently reported strong quarterly results that exceeded Wall Street’s consensus estimates by $.02. The company also increased their guidance numbers, but the stock price continues to fall.

In an interview with Mr. Cramer, Skyworks CEO David Aldrich opined that we are still in the early stages of mobile internet adoption. He believes that Skyworks is delivering better margins than most of their competitors and sees tremendous growth opportunities ahead for leveraging the technology developed for smartphones. This technology can be utilized in various products like medical devices, satellites, etc.

Cramer is definitely still bullish on the mobile internet sector and Skyworks in particular. He is looking for the stock to move much higher.