Apple supplier Skyworks Solutions projects third-quarter revenue and profit exceeding Wall Street expectations, indicating strong demand for its analog chips despite trade tensions.
Skyworks forecasts third-quarter revenue between $920 million and $960 million, with an adjusted profit of $1.24 per share for the June quarter, surpassing analysts' estimates.
Skyworks' positive outlook suggests another quarter of sequential growth and improving year-over-year trends, with the mobile business expected to decline only in low single digits sequentially.
Approximately 64% of Skyworks Solutions' revenue in fiscal year 2024 came from Apple, increasing to 72% in the first quarter of fiscal 2025, showing optimistic prospects for Apple as well.