I’m not wanting to be a Debbie downer on SWKS (I haven’t sold my position and hope for more gains) but… I have heard this argument before most notably in my own industry in Pharma…
<1>Along with this, we’re seeing a dramatic increase in analog complexity, driven by higher performance requirements, and these market dynamics have created greater content opportunities, closer engagements with our customers, and higher value solutions across the board, with a narrowing field of capable competitors.
… where big pharma claims that in today’s research based pharmaceutical world only those companies with large R&D budgets and end to end capabilities can identify new blockbuster drugs. The fact of the matter is that actually most new drugs have come from smaller more nimble and innovative biotech or specialist biopharma players and not from Big Pharma. I can see the same happening in RF and chip sets despite the current wave of consolidation.
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