“Skyworks Solutions, an Apple chip supplier that last month raised its revenue guidance, is expected to post a 51% revenue jump when it reports its fiscal Q4 earnings results after the market close Thursday,” Michael Perrault reports for Investor’s Business Daily. “Such an increase would be its most in at least 18 quarters.”
“Skyworks Solutions, which is widely believed to be a supplier of radio-frequency chips for Apple iPhones and iPads, on Oct. 14 raised its guidance, forecasting revenue of $718 million for its Q4 ended on or near Sept. 30, up from its previous forecast of $680 million,” Perrault reports. “The Woburn, Mass.-based company also raised its guidance for earnings per share excluding items to $1.08 from $1.”
“Apple guided its own December-quarter revenue to $65 billion, which would be up 13% from the year-ago quarter and its biggest jump in two years, when it released its September-quarter results on Oct. 20. That outlook beat analysts’ $63.7 billion consensus,” Perrault reports. “‘For (Apple) suppliers, we believe the focus turns to company-specific content and associated production ramps for the holiday builds and product refreshes,’ Oppenheimer analyst Rick Schafer said in a research report last week. “‘We have a directionally positive bias on Skyworks (NASDAQ:SWKS), Broadcom (NASDAQ:BRCM) and Avago Technologies (NASDAQ:AVGO) content, and a directionally negative bias on Cirrus Logic (NASDAQ:CRUS).'”
Read more in the full article here.
Just heard on the radio that Walgreens stock was up today on “an unexpected increase in sales last month”. Hmm… wonder what could have sparked that?
One wonders….