Apple supplier Skyworks cuts quarterly forecast

Wednesday, 04. March 2020 16:13

Supplier of semiconductors for Apple Inc's iPhones, Skyworks Solutions Inc, slashed on Wednesday its forecast for the second quarter due to impacts from COVID-19.

The company stated the fiscal revenue will, therefore, hover between $760 and $770 million while the previously expected was $800 million. The expected earnings per share is now $1.34.

Chief Executive Liam Griffin said that "although COVID-19 has caused no significant disruption within Skyworks' manufacturing operations to date, the current demand environment for our products has been negatively impacted by interruptions in global supply chains."

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