KeyBanc downgrades Skyworks on worsening smartphone market
14/07/2026 15:36
BUZZ-KeyBanc downgrades Skyworks on worsening smartphone market ** KeyBanc downgrades chipmaker Skyworks Solutions SWKS.O to "sector weight" from "overweight"
** Says smartphone market "continues to worsen," with cuts across all segments and smartphone manufacturers, including Apple AAPL.O, Samsung 005930.KS and Chinese handset makers
** "We're hearing memory makers are planning to cut their allocation to the smartphone market next year by 20% in order to better service demand in data center" - brokerage
** Average rating of 25 analysts covering the stock is "hold"; median PT is $75 - data compiled by LSEG
** As of last close, SWKS down ~8% this year
(Reporting by Prathik Jayaprakash in Bengaluru)
((Prathik.Jayaprakash@thomsonreuters.com; +91 9916364306))
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