SWKS CEO is on Cramer tonight. Hopefully he will tell us everything is going to be alright and that the Chinese consumer has not stopped buying iphones.
Here is the link. Per Aldrich, 20-25% of revenue comes from China. More products are built there but not sold there.
Stock looks cheap to me.
CEO basically confirming what I think we’ve all been figuring here.
SWKS has 25% revenue exposure to China since most phones aren’t consumed there. The Goldman Sachs 83% figure is incredibly misleading and really wrong.
There is still a lot of growth in China. they said only 20% are on 4g lte network.
The CEO said they also do channel checks and everything is still geared to their growth predictions.
I think this is looking like a buying opportunity.
Please watch the Mad Money video in case I goofed my facts.
CEO David Aldrich was great!
I am adding again, this is now my biggest position in my portfolio, even bigger than NFLX and SKX.
NFLX was my biggest with 10%
SWKS is now at 125
SKX at 7%
All high conviction stocks for me
SWKS 12%, not 125, sorry
I added a bit… May add more tomorrow. Man, it is getting cheap!