PREVIEW: Skyworks Solutions slips ahead of quarterly results

Skyworks Solutions

12/11/2024 20:16

** Shares of Skyworks Solutions  SWKS.O  slipped about 1.2% on
Tuesday, ahead of quarterly results after the bell, with a focus
on lackluster smartphone demand
    ** Shares of the iPhone chip supplier down about 23% YTD,
underperforming the Nasdaq's  .IXIC  29% rise
    **  Apple  AAPL.O , on Oct. 31, reported quarterly sales
ahead of Wall Street expectations, but a modest rev. forecast
raised questions whether iPhone demand momentum will hold over
the holiday sales season
    ** Analysts expect quarterly rev. to fall 16% yr/yr to $1.02
bln, with adjusted EPS seen at $1.52 vs $2.20 last year,
according to data compiled by LSEG
    ** Stock recently traded at 13 times its expected earnings,
below the 5-yr avg. forward price-to-earnings ratio of 14 - LSEG
data

 (Reporting by Noel Randewich)
 ((noel.randewich@tr.com;))