Reported 11 days ago
Skyworks Solutions, an Apple supplier, has projected its first-quarter revenue and profit to fall below Wall Street's expectations due to sluggish demand from automotive and industrial sectors, causing shares to drop 3.1%. The company anticipates revenue between $1.05 billion and $1.08 billion, which is below analysts' predictions. While it expects a slight increase in mobile business driven by seasonal product launches, overall challenges persist as rivals like Qorvo also report lower forecasts amid intense competition and shifting consumer preferences.
Source: YAHOO