Skyworks Solutions Inc

SWKS: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$756.00	Clkgh	Hyrxtrwl

Skyworks Earnings: Smartphone Recovery Appears To Be on the Horizon; $115 Fair Value Estimate Intact

Brian Colello

Jul 31, 2024

Narrow-moat Skyworks Solutions reported solid fiscal third-quarter results and provided investors with a decent forecast for the September quarter. The company is optimistic that artificial intelligence will be a catalyst for a smartphone upgrade cycle, particularly at key customer Apple, which might bode well for future orders for radio frequency, or RF, chips made by Skyworks. A recovery in smartphones has been baked into our model for some time, and as such, we maintain our $115 fair value estimate. Shares appear fairly valued to us.

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