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0.00181451612903214 0.00147849462365591 0.002755376344086 0.00309139784946242 -0.00779569892473116 -0.0168010752688172 -0.0204301075268817 -0.0134408602150538
Stock impact report

Citigroup gets negative on chip stocks, citing weak iPhone demand [CNBC]

Skyworks Solutions, Inc. (SWKS) 
Last skyworks solutions, inc. earnings: 1/23 04:01 pm Check Earnings Report
Company Research Source: CNBC
Semiconductor producer Skyworks Solutions was downgraded at Citigroup on Monday in light of Apple's weaker-than-expected iPhone XR outlook and softer smartphone demand in China. We are downgrading Skyworks Solutions to neutral from buy post the earnings season based on broad smartphone weakness observation in China and disappointing iPhone XR unit sales, which will likely hinder radio frequency semis growth in 2019, analyst Atif Malik wrote in a note to clients. Additionally, we now think that 5G is a 2020 story versus our prior 2019 view with little upside in 2019 from 5G implementation. Malik wrote that during Skyworks' September-quarter earnings call, management noted that a unit decline in premium smartphone and overall China softness were driving a below-seasonal December quarter. Company leadership said the March quarter expected be be down 12 percent on a seasonal basis. Citi cut its price target on Skyworks to $85 from $116, representing 10.8 percent upside f Show less Read more
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