Reported about 9 hours ago
Skyworks Solutions' stock plummeted nearly 25% after it was revealed that Apple is shifting to dual-sourcing chips for its iPhones, with Broadcom believed to be the competitor. Apple accounted for 72% of Skyworks' revenue, largely from components for iPhones, but the new sourcing strategy could reduce demand by 20% to 25%. Analysts estimate this could lead to a $600 million revenue impact for Skyworks in 2025. Furthermore, a leadership change within Skyworks has added to uncertainty regarding the company's future.
Source: YAHOO