68.54 +0.09 (0.13%)
After hours: 7:58PM EST
|Bid||68.11 x 900|
|Ask||68.55 x 800|
|Day's Range||68.13 - 69.11|
|52 Week Range||60.12 - 115.98|
|Beta (3Y Monthly)||0.87|
|PE Ratio (TTM)||13.66|
|Earnings Date||Feb 5, 2019|
|Forward Dividend & Yield||1.52 (2.22%)|
|1y Target Est||88.13|
# Skyworks Solutions Inc ### NASDAQ/NGS:SWKS View full report here! ## Summary * Bearish sentiment is low * Economic output for the sector is expanding but at a slower rate ## Bearish sentiment Short interest | Positive Short interest is low for SWKS with fewer than 5% of shares on loan. The last change in the short interest score occurred more than 1 month ago and implies that there has been little change in sentiment among investors who seek to profit from falling equity prices. ## Money flow ETF/Index ownership | Neutral ETF activity is neutral. ETFs that hold SWKS had net inflows of $13.54 billion over the last one-month. While these are not among the highest inflows of the last year, the rate of inflow is increasing. ## Economic sentiment PMI by IHS Markit | Negative According to the latest IHS Markit Purchasing Managers' Index (PMI) data, output in the Technology sector is rising. The rate of growth is weak relative to the trend shown over the past year, however, and is easing. ## Credit worthiness Credit default swap CDS data is not available for this security. Please send all inquiries related to the report to firstname.lastname@example.org. Charts and report PDFs will only be available for 30 days after publishing. This document has been produced for information purposes only and is not to be relied upon or as construed as investment advice. To the fullest extent permitted by law, IHS Markit disclaims any responsibility or liability, whether in contract, tort (including, without limitation, negligence), equity or otherwise, for any loss or damage arising from any reliance on or the use of this material in any way. Please view the full legal disclaimer and methodology information on pages 2-3 of the full report.
Typically, the holiday season presents a joyous moment for the markets on a substantive basis. With businesses borrowing money to ramp up for manic shoppers, the fourth quarter is the chance to deliver the goods. But with the upcoming earnings reports, investors should probably brace for disappointing results. According to the latest report from The Wall Street Journal, a string of downgraded profitability expectations has worried analysts. Prior headwinds that began to impact sentiment last year, unfortunately, stuck around longer than corporate leaders anticipated. Further, few indicators suggest that the markets can rise above the doldrums anytime soon. Primarily, the upcoming earnings reports mostly have a China problem. The ongoing trade war between the top two economies in the world have rattled both corporate executives and shareholders. An initial thawing in relations turned out to be a head-fake when controversies like the Huawei arrest returned an icy chill to the narrative. InvestorPlace - Stock Market News, Stock Advice & Trading Tips On a related note, the trade war throws more variables into an already unstable geopolitical environment. Other countries besides the U.S. must respond to the changing circumstances. Moreover, President Trump hasn't done a great job solidifying relationships with our allies. As a result, friendly nations have the potential of becoming economic rivals, further pressuring upcoming earnings reports. Finally, poor timing hurts Wall Street. Over the last few years, the benchmark indices have enjoyed record-breaking growth. But the tailwind that we're the best block in the worst neighborhood has died down. Now, investors seek substance. From their perspective, they're not getting it, adding to the overall bearishness. * InvestorPlace Roundup: The Hottest Stocks in the Market Today Naturally, almost every company is absorbing some pain. Here are ten upcoming earnings reports that are at risk for posting decelerating profits: ### Bank of America (BAC) No matter what the situation is for the economy or the investment sector, you must always pay attention to the big banks. As economic bellwethers, you can make a reasonable forecast on how Wall Street will perform based on their earnings reports. Unless you're shorting the broader markets, Bank of America's (NYSE:BAC) fourth-quarter 2018 earnings report will likely disappoint you. Originally slated for an earnings per share of 63 cents, BAC stock will be lucky if it gets anywhere close. According to Investor's Business Daily, a host of problems -- including the challenges I mentioned above -- will pressure the banks. Currently, BAC stock has benefitted from higher interest rates and tax cuts. However, those factors have likely been baked into the share price. At any rate, BofA's upcoming earnings report is extremely critical because it concentrates mostly in the U.S. Its performance could make or break other companies. ### Morgan Stanley (MS) Under any other circumstance, Morgan Stanley's (NYSE:MS) upcoming earnings report suggests a high probability of success. The last time MS stock missed the mark was back in Q3 2015. Otherwise, shareholders can depend on an earnings beat, and usually a very strong one. I'm not suggesting that MS stock will miss in Q4. However, it's a very real possibility. As is the case with BofA, one wonders how long the low-hanging fruit can sustain Morgan Stanley. Especially in a deflated environment, investors want to hear more than just "tax cuts" or "interest rates." * 10 Key Emerging-Market Stocks to Buy for Contrarian Investors Further, Morgan Stanley obviously features an extensive brokerage business. Even in a bull market, this is a challenging venture due to millennials not embracing equity investments. But with the major indices tanking like they have? The timing couldn't be worse. ### Apple (AAPL) Speaking of low-hanging fruit, we've got to talk about Apple (NASDAQ:AAPL). Among all upcoming earnings reports, AAPL stock levers the most influence in the global markets. When the vaunted consumer-electronics firm revealed that the trade war had hurt its iPhone sales, the Street responded poorly. But I'm not here to harp on past disclosures. First, I want to know just how bad of a miss we're talking about and the greater context. I agree with InvestorPlace market strategist William Roth, who stated that CEO Tim Cook blaming China is a cop-out. As Roth put it, "If you make an innovative product, Chinese consumers will buy it anyway." And that's where my concern lies. Without Steve Jobs, Apple has lost its core catalyst, which only invites lurking competitors. Management better have a good story to tell. Otherwise, AAPL stock may have further to fall. ### Skyworks Solutions (SWKS) Logically, if Apple is taking a turn for the worst, it follows that the company's suppliers will face similar distress. That's the case for Skyworks Solutions (NASDAQ:SWKS). Since the start of last year, SWKS stock has dropped an agonizing 26%. Not surprisingly, Skyworks recently announced a guidance cut for its upcoming earnings report. Previously, management forecasted revenues between $1 billion to $1.02 billion, and EPS of $1.91. Now, the Apple parts supplier is looking at sales of $970 million, and EPS between $1.81 and $1.84. * 8 Streaming Services That Won (and Lost) the 2019 Golden Globes More critically, I think we can expect SWKS stock to remain under pressure throughout most of this year. The concept of "peak smartphone" -- something that I've warned about years ago -- is finally impacting the markets. Unfortunately, companies like Skyworks rely on volume. If Apple and its competitors aren't driving unit sales, SWKS will need serious help. ### Union Pacific (UNP) In recent years, railroad operator Union Pacific (NYSE:UNP) has pleasantly surprised investors. Despite its rather archaic business, railroading represents a critical component of our transportation network. Additionally, this year looks like a favorable one for UNP stock thanks to a new executive hiring. I'd use the enthusiasm to take profits off the company ahead of its upcoming earnings report. Since the October meltdown, UNP stock has gyrated wildly. More importantly, shares could take on a decidedly negative tone if Union Pacific fails to meet profitability expectations. One of the biggest worries here is declining coal volumes. Despite President Trump's campaign rhetoric to bring back coal, that promise has fallen flat. According to Reuters, more coal plants closed their doors under Trump's first two years than former President Obama's first term. I don't see this situation changing due to cleaner alternatives to coal. Without another sector to pick up the slack, UNP could disappoint among high-profile earnings reports. ### Knight-Swift Transportation (KNX) In many ways, the trucking industry is a real-time bellwether for the underlying economy. Indeed, it could be more accurate than the big banks. After all, if consumers aren't buying goods, you'll see an equivalent decline in trucking demand. If that's the case, the falling price for Knight-Swift Transportation (NYSE:KNX) shares isn't a great sign. Since the beginning of 2018, KNX stock has dropped more than 34%, which is an alarming figure. In addition, the U.S. has likely reached maturity in trucking demand. * 8 Cheap Value Stocks That Just Got More Enticing This sets up an interesting situation ahead of the transportation giant's upcoming earnings report. According to industry data, last year saw a record in freight-hauling demand. We're probably not going to see a repeat performance considering the trade war and other retail headwinds. Therefore, I'd stay on the sidelines for KNX stock. ### J B Hunt Transport Services (JBHT) Among upcoming earnings reports, I'm worried most about transportation. In other sectors, particularly banking, you can fudge the numbers to present the best possible image. But with transportation, it's a binary reality: either you're moving products, or you're not. The problems that Knight-Swift is facing is not unique to the company. Another big name in the arena, J B Hunt Transport Services (NASDAQ:JBHT), is also taking it in the chin. While JBHT stock had a relatively strong start to 2018, the October selloff really hurt the organization. Over the past three-and-a-half months, shares have tanked more than 18%. A major headwind that hurts the transportation industry's future earnings reports is recruitment. Simply put, nobody wants to be a truck driver. Therefore, to keep the drivers JBHT and its competitors have, they must provide incentives. Trucking is one of the rare job markets where the employees make the rules. However, that doesn't do favors for JBHT stock in terms of profitability. ### Caterpillar (CAT) Out of the major earnings reports set for release, Caterpillar (NYSE:CAT) has hit the most branches from the ugly tree. CAT stock never gained traction last year as the markets absorbed increasingly bearish news. This year, the iconic industrial giant doesn't have many options to exercise. Primarily, the trade war represents the most worrying impediment. A recent report from Singapore Business Review indicated that China's construction industry will expand nearly 6% this year. If true, that's a lost opportunity that CAT stock can ill afford. Ironically, management has its staunch supporter President Trump to thank. * Mizuho: 7 Long-Term Value Stocks to Buy Now The former real-estate mogul and reality-TV star also boasted about "building the wall." We're now in a dubiously unprecedented government shutdown because of this contentious issue. From Caterpillar's perspective, the wall is a pipe dream. This hurts longer-term prospects, casting a cloud on the upcoming earnings reports. ### DR Horton (DHI) The crazy real-estate market probably won't impact homebuilder DR Horton's (NYSE:DHI) upcoming earnings report. But that doesn't give investors justification to dismiss the problems brewing over the horizon. Over the past two years, housing prices have gone ballistic. This is especially the case for popular destination regions like Southern California. At one point, you could find affordable homes thanks to the recovery phase from the Great Recession. Today, even the cheap homes are out of reach for average income earners. That's a huge problem for DHI stock, particularly because its core industry has a demographic problem. Most millennials were too young to participate in the housing discount shortly after the 2008 crisis. But just as they were about to pull the trigger, prices skyrocketed. This dynamic has created what Fortune's Shawn Tully called a "lost generation" of home buyers. Essentially, housing's boom-bust cycles have created fiefdoms throughout America. While this setup benefits the rich, the wealth imbalance is bad news for DHI stock. ### Ford (F) In our high school yearbook, my classmate and football teammate David wrote that between Ford Motor (NYSE:F) and Chevy, it was no comparison -- you always went with Chevy. As an immigrant, I must admit that I've always been confused why Americans buy American cars. To me, the Ford and Chevy debate is akin to choosing between lethal injection and the gas chamber. If at all possible, I'd rather have a third option. Apparently, I'm not alone in my thinking process. After decades of disappointing sales that limited upside potential in F stock, management has mostly given up on cars. Moving forward, Ford will stick with what it does best: big trucks and SUVs. * 7 Pharmaceutical Stocks That Just Raised Prices This Year I can see this as a recipe for nearer-term success. But if customer tastes change, not having the mainstay sedan is a deal-breaker for F stock in the long run. As of this writing, Josh Enomoto did not hold a position in any of the aforementioned securities. ### More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Key Emerging-Market Stocks to Buy for Contrarian Investors * 7 Stocks at Risk of the Global Smartphone Slowdown * 7 Pharmaceutical Stocks That Just Raised Prices This Year Compare Brokers The post 10 Companies That Could Post Decelerating Profits appeared first on InvestorPlace.
What Dialog's Revised Q4 2018 Guidance Says about Apple Suppliers ## Dialog Semiconductor lowers its fourth-quarter revenue guidance Apple (AAPL) stock has declined 35.8% in the last 100 days after reaching its all-time high of $233.47 in early October. It’s currently trading just above its new 52-week low of $142. The stock fell as Apple is set to report its first YoY (year-over-year) decline in iPhone sale in the December 2018 quarter, which CEO Tim Cook confirmed in his January 2 letter to investors. The letter sent stocks of major Apple suppliers like Qorvo (QRVO), Broadcom (AVGO), and Skyworks (SWKS) down more than 8% on January 3. While weak iPhone sales affected Apple’s suppliers significantly, its United Kingdom–based power management chip supplier Dialog Semiconductor seems to have mitigated the impact. Today, Dialog lowered its revenue guidance for the fourth quarter of 2018 from the previous range of $430 million–$470 million to $431 million. Despite the lower guidance, Dialog’s stock is trending up as its revised guidance is better than Apple’s. Apple reduced its revenue estimate for the December 2018 quarter to $84 billion, way below its previous guided range of $89 billion–$93 billion. ## Why is Apple important for Dialog? Apple is the biggest customer of Dialog, which earns 75% of its revenue from the iPhone maker. Dialog’s revised revenue guidance suggests that weakness in iPhone sales may not have as severe an impact on Apple suppliers as Wall Street analysts suggested. Chips suppliers like Qorvo and Skyworks that have high exposure to Apple have recovered from the January 3 decline. Check out all the data we’ve added to our quote pages. Now you can get a valuation snapshot, earnings and revenue estimates, and historical data as well as dividend info. Take a look!
The semiconductor space has been brutal for stock investors over the past three months. ON Semiconductor (NASDAQ:ON), Nvidia (NASDAQ:NVDA), and STMicroelectronics (NASDAQ:STM) are among the companies whose stocks have been hit hard. Investors want to know if semiconductors stocks are safe yet. While I can't address every semiconductor stock, it's worth taking a good, solid look at a few of them. For instance, I love Nvidia because of its industry-leading technology that is used by various industries. While NVDA stock will remain volatile in the short-term, we know that it's trading at a discount to its long-term opportunity. InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 7 Stocks at Risk of the Global Smartphone Slowdown Other chip makers, including Skyworks Solutions (NASDAQ:SWKS), saw their stock prices rally after they cut their guidance. That type of action shows us that the market is pricing in a worst-case scenario for many of these names. In fact, after Skyworks made its announcement, other semiconductor stocks, including ON Semi, started to rally, too. Consequently, it's worthwhile to take a closer look at ON Semiconductor stock. ### Valuing ON Semiconductor Stock About 30% of ON's revenue comes from the automotive sector, while about 20% of its top line is generated by deals with communication companies and roughly 25% of its revenue comes from the industrial, aero-defense and medical sectors. While its vertical markets are fairly diverse, its geographical markets aren't so varied. Only about 15% of ON's sales come from the Americas, while Asia(excluding Japan) accounts for over 60% of its top line. Given that it has so much exposure to Asia, one would think that ON stock would be under more pressure than it has been. Over the last three months, its shares have actually risen 5.5%. Compare its performance to that of names like NVDA and Advanced Micro Devices (NASDAQ:AMD), which are down 46% and 29% during the same span, respectively, and ON looks pretty good. That said, ON stock is down about 35% from its highs, so it hasn't escaped completely unscathed from the selloff. Still, as Chinese economic data continues to come in weak and as the auto market hugs the flatline in terms of growth, one does wonder about ON's growth profile. For 2018, analysts on average are calling for earnings of $1.90 per share on revenue of $5.88 billion, representing year-over-year increases of 30.1% and 9.1%, respectively. Consensus estimates call for ON's earnings growth to slow to just 0.5% in 2019, alongside just 3.4% revenue growth. The expected deceleration suggests that analysts anticipate that the company's margins will erode and leaves investors wondering if its results could end up being worse than expected. But ON stock trades at less than ten times this year's earnings. If ON's net debt of over $1.7 billion was lower (note the market cap of ON stock is just $7.5 billion), then the shares would be more attractive to me. There's no doubt that other semi stocks are more solid from a financial standpoint. ### Trading ON Stock ON stock hit a low near $14.75 in late October, but more importantly, it didn't make a new low when the market did on Christmas Eve. That's a bullish development for a stock that was previously weak when the stock market sold off. ON stock has since pushed through its 21-day , 50-day, and 100-day moving averages, Ultimately, it would be constructive to see ON challenge $19.35, the 38.2% Fibonacci retracement from its 52-week high/low range. However, the stock may need to pull back before ultimately pushing through these levels. If the shares do retreat, I would love to see them hold their short-term uptrend support, which is depicted by the blue line on the chart. Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. As of this writing, Bret Kenwell is long NVDA. ### More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Stocks You Can Set and Forget (Even In This Market) * 10 Virtual Assistants for the Future of Smart Homes * 7 5G Stocks to Buy as the Race for Spectrum Tightens Compare Brokers The post ON Semiconductor Stock Has Positive And Negative Attributes appeared first on InvestorPlace.
"First fiscal-quarter results were impacted by unit weakness across our largest smartphone customers," said Liam Griffin, Skyworks president and CEO, in a statement. Apple announced a surprise cut in revenue and earnings guidance for the current quarter, sending shares plummeting nearly 10% last week. Apple blamed a slowing Chinese market for the miss.
The three major U.S. stock indices closed higher for the fourth consecutive day as three days of meetings between trade delegations from the U.S. and China appeared to end on a positive note.
U.S. equities continue to slowly-but-surely squeeze higher, even as resistance looms overhead. U.S.-China trade negotiations continue to improve and the Federal Reserve seems to be backing off its hawkish stance. This has given investors renewed hope, allowing stocks to rally. Let's get a look at today's top stock trades. ### General Electric (GE) Click to EnlargeHave InvestorPlace readers been nailing this one or what? General Electric (NYSE:GE) stock may have a tough time when it reports earnings later this month thanks to its big rally off the lows. But it's been an absolute beast from its December lows. Shares hit $6.66 in early December, but more importantly, didn't retest those lows when the rest of the market hit its low on Dec. 24. GE then powered up and through the 21-day moving average and the $8 level. We highlighted $8 and the 50-day moving average previously and on Wednesday, we got a pullback to this level after a test of $9. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Now what? After a beautiful bounce, investors have to see how it does with $9 again. As you can see in November, GE got extra volatile once it fell below this mark (blue circle). If GE pulls back and holds $8 again, it's a buy. * 10 Key Emerging-Market Stocks to Buy for Contrarian Investors For now, though, I'm looking for another test of $9. Let's see what happens if and when it does. ### Skyworks Solutions (SWKS) Following Apple's (NASDAQ:AAPL) preliminary guidance move, Skyworks Solutions (NASDAQ:SWKS) cut its guidance for the upcoming quarter. In response the stock … rallied 4% on Wednesday? That's right. That's how you know the market was pricing in the absolute worst for SWKS and likely other suppliers as well. What do I want to see now? SWKS get back over the 10-week moving average and $70. Maybe the stock has bottomed -- and it has attractive fundamentals -- but I want to be sure that the downside is over. Above $70 and SWKS has a better risk/reward setup. ### Huya (HUYA) Click to Enlarge Up almost 9% on Wednesday and 25% over the five days, Huya (NYSE:HUYA) has investors' attention. In fact, many Chinese stocks are moving more bullishly now that the U.S.' negotiations are improving with the country. The stock's move over downtrend resistance and the 21-day moving average sparked a rally over the 50-day and up to $20. The question now is, will $20 and the 100-day moving average act as resistance? It's looking like it might, at least in the short-term. If Huya can keep pushing higher though, it may help spark a rally for other Chinese equities. My thoughts? IQiyi (NASDAQ:IQ) could be due for some upside momentum. ### Micron (MU) Click to Enlarge After fetching a few upgrades this week, Micron (NASDAQ:MU) is starting to move nicely. The stock paused at $34, a level it broke down from in December, after finding it as support a few times in the fourth quarter. However, MU powered through this level while jumping higher by 7% on Wednesday. In doing so, the stock broke out over downtrend resistance (blue line) and is also testing a breakout over the 50-day moving average. Will the move stick? That depends. But bulls have to see it hold up over downtrend resistance/$34 at this point. If it can, I have faith that the bottom is in. That said, we're not overbought yet and even though shares are up big Wednesday, they could keep rallying. I'm watching the $40 to $41 level should MU continue to move higher. This area was important in the second half of 2018, but also marks the 38.2% Fibonacci retracement level from the 2018 high-low range. ### Energy ETF (XLE) Click to Enlarge The Energy Select Sector SPDR ETF (NYSEARCA:XLE) has been on a tear from its December lows, rallying from sub-$54 to more than $62 in virtually a straight line. Aggressive bears can short the ETF now with a stop-loss on a close over $64. Conservative bears will wait for the ETF to breach $63 and possibly test $64 before taking a short position. Either way, $64-ish should be a tough level and offers a good risk/reward for bears. Keep in mind, the XLE's top three positions are Exxon Mobil (NYSE:XOM), Chevron (NYSE:CVX) and ConocoPhillips (NYSE:COP). Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. As of this writing, Bret Kenwell did not hold a position in any of the aforementioned securities. ### More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Retail Stocks to Buy for Winning the Online Battle * The 7 Best Stocks in the Entrepreneur Index * 7 5G Stocks to Buy as the Race for Spectrum Tightens Compare Brokers The post 5 Top Stock Trades for Thursday: Trading GE, MU and SWKS appeared first on InvestorPlace.
Apple Inc. (NASDAQ: AAPL ) supplier Skyworks Solutions Inc (NASDAQ: SWKS ) warned of a revenue shortfall for its fiscal first quarter, attributing the downward guidance revision to unit weakness across ...
Weakness Continues to Plague Apple’s iPhone Sales ## Apple cuts iPhone production again As per the latest report by the Nikkei Asian Review on January 9, Apple (AAPL) is cutting the production of its latest iPhone models by ~10% in the first quarter due to sluggish iPhone sales. The recent cut in iPhone production comes within two months of the iPhone maker telling its suppliers to produce fewer-than-expected iPhones for the March quarter. Soft demand for the latest iPhone models has led the company’s suppliers, including Lumentum Holdings (LITE), Qorvo (QRVO), Universal Display, Cirrus Logic (CRUS), and Skyworks Solutions (SWKS), to cut their sales outlooks. Apple’s iPhone sales weakness was also reflected in the reduction of its sales guidance, which it announced last week. Apart from the soft iPhone sales expected in Greater China, Apple expects the weakening Chinese economy to further dent iPhone sales. ## Lower demand for Apple’s newest iPhones The company’s trimmed-down production plan for its smartphones—including its new iPhone models the XS Max, XS, and XR—signals that its new models aren’t seeing robust demand. Reportedly, the company’s planned production volumes for new and old iPhones will now be ~40 million–43 million units for the first quarter, down from the earlier forecast of 47 million–48 million units. Apple has been witnessing sluggish demand for its iPhones, which are a crucial driver of its revenue. The company also missed its iPhone shipment estimate on November 1. It reported iPhone unit shipments of 46.9 million in the fourth quarter of fiscal 2018, down from analysts’ expectation of 47.5 million units.
Stocks rose as trade optimism and oil prices drove the Dow Jones industrials to an early lead Wednesday, but the rally faced a key technical test.
# Skyworks Solutions Inc ### NASDAQ/NGS:SWKS View full report here! ## Summary * ETFs holding this stock are seeing positive inflows * Bearish sentiment is low * Economic output for the sector is expanding but at a slower rate ## Bearish sentiment Short interest | Positive Short interest is extremely low for SWKS with fewer than 1% of shares on loan. This could indicate that investors who seek to profit from falling equity prices are not currently targeting SWKS. ## Money flow ETF/Index ownership | Positive ETF activity is positive. Over the last month, ETFs holding SWKS are favorable, with net inflows of $18.35 billion. Additionally, the rate of inflows is increasing. ## Economic sentiment PMI by IHS Markit | Negative According to the latest IHS Markit Purchasing Managers' Index (PMI) data, output in the Technology sector is rising. The rate of growth is weak relative to the trend shown over the past year, however, and is easing. ## Credit worthiness Credit default swap CDS data is not available for this security. Please send all inquiries related to the report to email@example.com. Charts and report PDFs will only be available for 30 days after publishing. This document has been produced for information purposes only and is not to be relied upon or as construed as investment advice. To the fullest extent permitted by law, IHS Markit disclaims any responsibility or liability, whether in contract, tort (including, without limitation, negligence), equity or otherwise, for any loss or damage arising from any reliance on or the use of this material in any way. Please view the full legal disclaimer and methodology information on pages 2-3 of the full report.
Nikkei reported that Apple is cutting iPhone production by 10 percent between January and March. This would be the second time in two months that Apple trims iPhone production plans, according to the report. Facebook FB — CEO Mark Zuckerberg said he will host a series of discussions about tech's role in society in the future.
Chief Executive Officer Liam Griffin blamed the lowered outlook for the period ended Dec. 28 on "unit weakness across out largest smartphone customers." He didn’t mention Apple, but the iPhone maker is Skyworks’ biggest customer, accounting for about half of its revenue. "People were expecting a lot worse," Woo Jin Ho, Bloomberg Intelligence senior analyst, said. Skyworks gave its earlier first-quarter forecast on Nov. 8, a few days before other Apple suppliers began raising concerns about disappointing iPhone sales.
JCPenney JCP shares rose as much as 8 percent after hours as the company announced its same-store comparable sales decreased 3.5 percent during the holidays. The U.S. government has said it will still distribute federal income tax refunds despite the government shutdown. The government has been shut down since December 22 as President Donald Trump and Congress engage in a standoff over funding for a wall along the U.S.-Mexico border.
Apple Inc supplier Skyworks Solutions Inc on Tuesday lowered its first-quarter profit and revenue estimates, citing weakness across its biggest smartphone customers. Investors have been worried about smartphone ...
Skyworks Solutions issued weak first quarter guidance Tuesday. The semiconductor company lowered revenue projections to $970 million from $1 billion to $1.02 billion. "First fiscal quarter results were impacted by unit weakness across our largest smartphone customers," said Liam K. Griffin, president and chief executive officer of Skyworks, in a statement.
Skyworks Solutions, Inc. (SWKS), an innovator of high performance analog semiconductors connecting people, places and things, today updated its guidance for the first fiscal quarter ended December 28, 2018. “First fiscal quarter results were impacted by unit weakness across our largest smartphone customers,” said Liam K. Griffin, president and chief executive officer of Skyworks. Skyworks’ independent registered public accounting firm has not completed its review of our results for the first fiscal quarter ended December 28, 2018.