Goldman Sachs has just released a report highlighting key stocks set to beat the market as wages rise. These are stocks with particularly low labor costs right now as a proportion of their revenue. Already multiple companies have passed the new tax savings on to workers- including Starbucks, Home Depot and American Airlines- which should put pressure on other companies to follow suit. However, for companies that already pay out high wages relative to revenue these hikes could damage bottom lines. For the companies listed below, Goldman Sachs reassures us that this won’t be a problem.

From the firm’s report, we pinpointed these five hot stocks which all share a bullish outlook from the Street in general. Indeed, as you will see from the screenshots below, these are the only stocks on the list which have a ‘Strong Buy’ analyst consensus right now. TipRanks’ algorithms track and rank almost 5,000 Wall Street analysts. This allows us to: 1) see the overall analyst consensus on any stock based on the last three months of ratings and 2) extract stock insights from only the best-performing analysts on Wall Street. This means that- as we will see below- you can immediately get the full picture on any stock mentioned in any financial report.

So with this in mind, let’s dive in now:

1. Skyworks Solutions – implied labor cost 0% of revenue

This top US semiconductor stock  (Nasdaq:SWKS) has a bright outlook according to the Street. The company, which supplies chips for Apple iPhones (among other things), has received 9 recent buy ratings vs just 1 hold rating. These analysts see the stock spiking over 25% in the coming months.

Five-star Canaccord Genuity analyst Michael Walkley is not overly disturbed by reports of iPhone X sales peaking earlier than expected- although he does lower his price target from $125 to $115 (18% upside).

He sees other growth catalysts offsetting this loss and says: “We believe Skyworks is well positioned with leading smartphone manufacturers Samsung, Huawei, and other leading Chinese smartphone OEMs. We believe the $9 in content for the Huawei Mate 10 is a benchmark goal for Skyworks with premium tier Chinese smartphones.”