SWKS Stock Recent News

Skyworks Solutions (NASDAQ: SWKS ), stock has long been seen as a cheap proxy for Apple (NASDAQ: AAPL ), its largest customer. When sales are growing fast, analysts love to talk about Skyworks (which makes radio chips) getting away from that dependence.

Expect big things for 2024 as global semiconductor trends accelerate. Analysts forecast that, broadly, 2024 will mark a record year for revenue while the industry prepares to double within the next decade, generating a trillion dollars in revenue between now and then.

As you look at semiconductor stock picks for 2024, it's important to understand the state of the sector. Semiconductors are in the early stages of a super cycle that may have several years to run.

Semiconductor stocks and the companies they represent are ready for big things in 2024. One research firm claims that 2024 will kickstart a prolonged 20% CAGR trend next year, with artificial intelligence and vehicle-centric utility leading the way.

Skyworks Solutions reported Q3 revenue of $1.219 billion with flat guidance for December at $1.175 to $1.225 billion. The company expects momentum in its mobile business but anticipates continued inventory issues in its broad markets business. Skyworks remains bullish on opportunities in expanding RF content, intelligent IoT devices, vehicle electrification, and high-speed connectivity applications.

In a tech-driven era, the ascent of AI continues to reshape industries. Here are three top AI stocks poised to redefine market dominance by 2025.

Given the poor price performance of Skyworks (SWKS) stock over the last few years the large decline in annual earnings estimates in the last 30 days is concerning.

Skyworks Solutions is a leading RF manufacturer positioned to take advantage of growth in the 5G market. The company's focus on broad markets, including IoT and automotive applications, offers potential for diversification away from the maturing smartphone market. While the company's recent earnings report was lackluster, its strong free cash flow and sound balance sheet provide stability and potential for future growth.

Skyworks Solutions has been hit hard from a downturn in Apple product sales, and it's still struggling to diversify its business. Shares could be really cheap, but there's not much in the way of forward-looking growth expectations either.

Skyworks' (SWKS) fourth-quarter fiscal 2023 results reflect the negative impact of high inventory levels in the broad market amid a challenging macroeconomic environment.