Skyworks (SWKS) reported earnings on Thur 8 Nov 2018 (a/h)

** charts after earnings **

 

• Skyworks (SWKS -9%) is trading at a 22-month low, leading chips stocks (SMH -2.6%) to the downside after guiding Q1 (Dec) below estimates. 
• Over the last month, pretty much every semiconductor company warned about December quarter results due to a slowdown in chip demand, confirming cyclical concerns that arose in early October. It seems tariff concerns may have pulled forward some demand. 
• However, Skyworks is a key Apple (AAPL -1.8%) supplier, so its cautious tone is adding to concerns after Apple's guidance for the holiday period the removal of shipment disclosures last week implied iPhone unit growth will be hard to come by going forward.

Skyworks beats by $0.02, reports revs in-line; guides Q1 EPS below consensus, revs below consensus

• Reports Q4 (Sep) earnings of $1.94 per share, excluding non-recurring items, $0.02 better than the S&P Capital IQ Consensus of $1.92; revenues rose 2.3% year/year to $1.01 bln vs the $1 bln S&P Capital IQ Consensus.
• Co issues downside guidance for Q1, sees EPS of $1.91, excluding non-recurring items, vs. $2.08 S&P Capital IQ Consensus; sees Q1 revs of $1.00-1.02 bln vs. $1.07 bln S&P Capital IQ Consensus.