Skyworks stock falls as analysts parse how much weak Android and Apple smartphone sales figure into the wireless chip maker's forecast.
Skyworks Solutions Inc.’s stock dove Tuesday as analysts parsed how much weak Android and Apple Inc. smartphone sales figured into the wireless chip maker’s forecast.
“As a rule of thumb, we are loath to changing ratings after the fact,” Srivastava said in a Tuesday note. “The exception to that is when we either cannot add it all up, if we see a structural issue emerging, or if we see a multi-quarter headwind.” Susquehanna Financial analyst Christopher Rolland, who has a positive rating and a $125 price target on the stock, said that the forecast suggested demand for phones that use Alphabet Inc.’s GOOG GOOGL Google Android operating system and inventory digestion “continue to weigh on the outlook.”
Citi Research analyst Atif Malik called the outlook “disappointing,” and held on to his neutral rating on “decelerating 5G smartphone adoption, concerns on increasing RF competition, and Apple concentration risk.”
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