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Published April 8, 2025
Skyworks Solutions slashed its projections and dashed investors’ hopes after it revealed its semiconductors won’t be used in the iPhone 17. Stunned investors dumped their Skyworks shares causing the stock to nosedive 24%. Now, some of those investors are taking legal action to recover their losses.
In July 2024, Skyworks’ executives told investors it expected its smartphone business to be up 20% and that smartphone AI features would drive this growth. The Company expected over a billion dollars in quarterly revenues.
But, those projections were too hasty.
In February 2025, Skyworks executives stunned investors when they revealed Skyworks’ biggest customer, Apple, pulled the plug on Skyworks because Skyworks’ semiconductors failed to meet benchmarks for the upcoming iPhone 17. Skyworks also revealed revenue was down and that it expected its mobile sector to decline.
Investors quickly dumped their shares. Some of those investors are now joining the class-action.