Skyworks Sees Bright Days Ahead at Apple and Non-Smartphone Sockets; $180 FVE
Skyworks Sees Bright Days Ahead at Apple and Non-Smartphone Sockets; $180 FVE, Shares Undervalued
MORNINGSTAR
Sector Director Brian Colello
Analyst Note | Brian Colello, CPA | Aug 5, 2022
Skyworks Solutions reported solid fiscal third-quarter results and provided investors with a healthy outlook for the September quarter and hinted at a nice upcoming ramp of selling radio frequency, or RF, chips into Apple’s latest iPhones. We are optimistic that Skyworks will remain a key supplier into future iPhones, not just in calendar 2022 and 2023, but also in the long run. We maintain our $180 fair value estimate and continue to view shares as materially undervalued and one of our top picks within the semiconductor industry.