Skyworks tumbles as sluggish smartphone market weighs on forecast
- Skyworks shares dropped over 14 per cent after its forecast missed estimates.
- Smartphone weakness is expected to weigh on first-quarter revenue and earnings.
- The Qorvo deal is expected to deliver at least US$500 million in annual savings.
Skyworks Solutions shares fell more than 14 per cent in extended trading after the chipmaker forecast first-quarter revenue and earnings below analysts’ expectations. The outlook points to continued pressure in its core smartphone business, particularly in the premium Android market. The company expects revenue of US$1.80 billion to…