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What: Shares of Skyworks Solutions (Nasdaq: SWKS) surged as much as 19% on strong quarterly results and an upbeat forecast for its fiscal fourth quarter.

So what: Like chip-making peer Cirrus Logic (Nasdaq: CRUS), Skyworks usually benefits when Apple’s (Nasdaq: AAPL) iPhone sales go gangbusters as they did last quarter. The results this time? Revenue rose 27% to $356.1 million, resulting in $0.49 in adjusted earnings per share.

Now what: As good as that is, investors bought on better-than-expected guidance. Management says Q4 revenue will come in at $400 million, resulting in $0.53 a share of profit. Analysts had been looking for $370 million and $0.50, respectively. Yet, Skyworks still trades for a fraction of the long-term earnings growth analysts expect. Those looking for a cheaper way to play the rise of iDevices may want to give this stock a second look.

Interested in more info on Skyworks Solutions? Add it to your watchlist .

Fool contributor Tim Beyers is a member of the Motley Fool Rule Breakers stock-picking team. He didn’t own shares in any of the companies mentioned in this article at the time of publication. Check out Tim's portfolio holdings and Foolish writings, or connect with him on Google+ or Twitter, where he goes by @milehighfool. You can also get his insights delivered directly to your RSS reader.

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