This chip stock has done even better than Apple itself because of the iPhone

on Jun30

Today marks the 10-year anniversary of the June 29, 2007, original Apple iPhone launch. Not only did the iconic smartphone massively disrupt multiple technology industries in the last decade, it generated amazing returns for investors.

The iPhone’s success drove Apple to become the most valuable company in the world with a current market value of more than $750 billion, according to FactSet. But surprisingly iPhone supplier Skyworks Solutions performed even better.

Best tech stock annual returns in the S&P 1500 over the last decade

Source: FactSet

While Apple shares rose at an impressive 25 percent annual rate the last 10 years, Skyworks Solutions outperformed it with a 30 percent per-year performance.

The iPhone supplier manufactures radio frequency semiconductors, which enable the ability for smartphones to communicate with wireless networks.

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