NEW YORK, April 23, 2025 (GLOBE NEWSWIRE) — Moore Law, PLLC, a securities and shareholder law firm located in New York City on Wall Street, is investigating potential claims against:
- Skyworks Solutions, Inc. (“Skyworks” or the “Company”) (NASDAQ: SWKS).
The investigation concerns possible misstatements that its long-standing relationship with Apple, its largest customer, did not guarantee that Apple would maintain its business relationship with Skyworks for its anticipated iPhone launch; it oversold Skyworks’ position and ability to capitalize on AI in the smartphone upgrade cycle; and as a result, positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
Skyworks issued a press release on February 5, 2025, reporting its financial results for its fiscal quarter ended December 27, 2024. Among other items, Skyworks reported a greater than anticipated decline in quarterly revenue and stated that “[w]e anticipate a mid-to-high teens sequential decline in mobile[.]” Separately, Skyworks announced the appointment of Philip Brace as the Company’s President and Chief Executive Officer, effective February 17, 2025.
Following this news, Skyworks’ stock price fell over 24% on February 6, 2025.
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