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Jim Cramer's Mad Dash: Skyworks Solutions' Beat Bodes Well for Apple

NEW YORK (TheStreet) -- Shares of Skyworks Solutions (SWKS - Get Report) are moving higher after the company pre-announced better-than-expected results for its fiscal third quarter. 

However, on CNBC's "Cramer's Mad Dash" segment, TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, was looking at the company's positive announcement through different lenses. 

Instead of focusing only on Skyworks Solutions, he was looking at the read-through for other companies, such as Apple (AAPL).

Foxconn represents 36% of Skyworks' business and is the primary manufacturer for Apple. Meaning that, if Skyworks Solutions is pre-announcing to the upside, then business must be good for Foxconn -- and thus Apple as well. 

Turning to Krispy Kreme Doughnuts (KKD), shares are lower by over 13% after the company underwhelmed investors with its fiscal first-quarter earnings results. 

Cramer pointed out that company-owned same-store sales underperformed franchise-owned stores. He added that consumers don't seem to be getting their "treat" from Krispy Kreme, while Dunkin' Brands (DNKN) seems to be doing just fine.

-- Written by Bret Kenwell in Petoskey, Mich.

>>Read More: Intel Changes Tune With Taiwan Partners, but Will That Be Enough?

>>Read More: Apple WWDC: What Wall Street's Saying

>>Read More: GM, Ford Sales Jump in May as Automakers Roll Past Estimates

At the time of publication, Cramer's Action Alerts PLUS has a position in AAPL.

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