Apple (AAPL) supplier Skyworks Solutions (SWKS) is expected late Thursday to report a sixth consecutive quarter of year-over-year declines in earnings. In its fiscal third-quarter report, Skyworks also is forecast to post sales that recovered minimally from the company’s slowest-ever growth period.
For fiscal Q3, the consensus of 24 analysts polled by Thomson Reuters models $750.2 million in sales, down 7% on a year-over-year basis vs. 2% growth in the prior quarter. But $1.21 earnings per share ex items would fall 10%.
Skyworks’ sales and EPS have both decelerated for five consecutive quarters. Like Apple’s other chip suppliers, Skyworks was tugged down in April on Apple’s first quarterly sales drop since 2003 and first-ever iPhone sales dip.
Unlike fellow Apple supplier Qualcomm (QCOM) — set to report its fiscal Q3 on Wednesday — analysts don’t expect a Q4 recovery for Skyworks. Wall Street’s model calls for a 6% decline in sales and a 7% decline in EPS in fiscal Q4.
Skyworks rivals Broadcom (AVGO) and Qorvo (QRVO) in supplying radio-frequency chips for Apple’s iPhones. But Broadcom recently gapped up with the $37 billion merger with the former Avago, and Qorvo is leading Skyworks in the carrier-aggregation Read Full Article
Source: Technology – IBD