Skyworks Solutions' Share Price Plummets as iPhone Manufacturer Turns to Competitors
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The Apple supplier Skyworks Solutions (NASDAQ: SWKS) suffered a severe loss of over 30% at times on February 6, 2025. The semiconductor company announced that it is losing business with the iPhone manufacturer to one of its largest competitors. This competitor appears to be Broadcom (NASDAQ: AVGO). The Q1 figures were satisfactory in themselves Skyworks Solutions reported a non-GAAP profit of $1.60 per share in Q1 of the fiscal year 2025, slightly exceeding consensus estimates, although earnings decreased by 18.8% year-on-year. Revenues of...
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