The semiconductor trade is hit with red arrows. Skyworks Solutions (SWKS) saw a massive slide down after losing a chunk of its business with Apple (AAPL).
SWKS' fiscal first-quarter results reflect strong mobile growth, offset by high inventory, uneven demand, and muted recovery in automotive and industrial markets.
Shares of semiconductor stocks Arm Holdings PLC (NASDAQ:ARM), Qualcomm Inc (NASDAQ:QCOM), and Skyworks Solutions Inc (NASDAQ:SWKS) are gapping lower after their respective earnings reports.
Despite posting an earnings beat, chipmaker Skyworks Solutions (SWKS) plunged more than 25% in premarket trading. Jenny Horne attributes the massive sell-off to increasing competition for Apple's (AAPL) business.
Skyworks Solutions, Inc. (NASDAQ:SWKS ) Q1 2025 Earnings Conference Call February 5, 2025 4:30 PM ET Company Participants Raji Gill - VP of IR Liam Griffin - Chairman, CEO & President Kris Sennesael - SVP & CFO Conference Call Participants Edward Snyder - Charter Equity Research Christopher Rolland - Susquehanna Karl Ackerman - BNP Paribas Toshiya Hari - Goldman Sachs Peter Peng - JPMorgan Liam Pharr - Bank of America Nicholas Doyle - Needham & Company Operator Good afternoon and welcome to Skyworks Solutions First Quarter Fiscal Year Earnings Call. This call is being recorded.
Skyworks Solutions (SWKS) came out with quarterly earnings of $1.60 per share, beating the Zacks Consensus Estimate of $1.57 per share. This compares to earnings of $1.97 per share a year ago.
Apple supplier Skyworks Solutions forecast declines in revenue across both its segments and projected profits below Wall Street estimates for the current quarter on Wednesday.
SWKS' first-quarter fiscal 2025 performance is likely to have benefited from its diversified portfolio despite market challenges.
Skyworks faces short-term challenges from high inventory and market pressures. Yet, long-term growth in 5G, IoT and AI-driven tech is promising.
Skyworks faces challenges from uneven demand and tough competition. Yet, its focus on 5G, IoT and AI signals a strong path to growth.
Skyworks (SWKS) reported earnings 30 days ago. What's next for the stock?
Skyworks faces stiff competition and inventory issues but strong portfolio and design wins in the 5G and automotive sectors might boost recovery.