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KEY POINTS
“These themes are playing out” as the 5G rollout remains in its infant stages, Skyworks Solutions CEO Liam Griffin told CNBC’s Jim Cramer.
“One of the amazing things here is, despite you know the horrific effects of the pandemic, we’re seeing a usage case” change “for connectivity” as work and school goes remote, he said in a “Mad Money” interview.
“If you think about where that world is going, where our world is changing, it’s going to be an incredible opportunity for Skyworks in so many different markets,” he said.
Skyworks Solutions CEO Liam Griffin on Monday told CNBC’s Jim Cramer that the 5G rollout remains at the very beginning as more signs of the need for the next generation of wireless technology emerge.
“These themes are playing out,” he said in a “Mad Money” interview. “One of the amazing things here is, despite you know the horrific effects of the pandemic, we’re seeing a usage case” change “for connectivity. Seemless, safe wireless connectivity is really, really critical today for everyone as we work, as we play, as we educate” in more remote settings.
To illustrate the high demand load for data online, Griffin explained that consumers begin watching about 84,000 videos on the internet each second of the day. About 5 million Skype calls are also being conducted every second and the growing demand for telemedicine is hard to track at this time, he said.
Skyworks develops semiconductors for mobile communications systems.
“If you think about where that world is going, where our world is changing, it’s going to be an incredible opportunity for Skyworks in so many different markets,” Griffin said.
On Friday, Skyworks reported earnings of $1.25 per share on revenue of $737 million. The chipmaker’s profit topped estimates by 13 cents a share and revenue by nearly $50 million.
The company’s business was powered by growth in its 5G-related products.
Skyworks shares rose almost 4% to $136.69 in Monday’s session. The stock is up 13% year to date.
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