Analyst downgrades Skyworks on weak iPhone sales estimates
Analyst downgrades Skyworks Mizuho Securities downsize Skyworks Solutions from Buy to Neutral and brings down the value focus from $125 to $100, a 13% upside to yesterday's close.
Examiner Vijay Rakesh: "We trust the impacts of a developing handset cycle could begin to affect the RF providers. We accept with Apple making a stride back in its 2H18 handset blend to LCD, level valuing, and expanding new substance, occupant content providers may feel weight."
Rakesh gauges that Apple speaks to 35% to 40% of Skyworks' deals. The investigator anticipates that iPhone generation will fall 2% Y/Y in 2H with new models like the iPhone 9 and the iPhone X refresh down 15% on the year.
Skyworks shares are down 0.2% premarket to $88.44.
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