15 AI News Stories Shaking Up Wall Street

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11. Skyworks Solutions, Inc. (NADAQ: SWKS)

Market Capitalization: $13.37 billion

Skyworks Solutions, Inc. (NADAQ: SWKS) is an American semiconductor company that designs, develops, manufactures, and markets proprietary semiconductor products. This AI play is recognized for its role in providing semiconductor components for enabling AI-driven smartphones and similar technologies.

On November 12, Skyworks Solutions, Inc. (NADAQ: SWKS) reported its fourth-quarter results. The company reported an adjusted EPS of $1.55, surpassing the analyst consensus estimate of $1.52. Quarterly sales were $1.025 million, in line with the analyst consensus estimate. Moreover, the company forecast first-quarter 2025 revenue and profit below Wall Street estimates, indicating weak demand from automotive and industrial clients. It expects adjusted profit per share of $1.57 for the first quarter 2025, ending in December, while analyst estimates stand at $1.72 per share. Despite the modest outlook, the company believes that the consumer electronics demand is expected to rise in the holiday season, supported by smartphone market recovery and the release of new smartphones featuring AI capabilities.

“For the second year in a row, we generated over $1.6 billion of free cash flow and ended fiscal 2024 with a record 40% free cash flow margin. Looking ahead, we believe AI is poised to ignite a transformative smartphone upgrade cycle, propelling the demand for higher levels of RF complexity.”

-Liam K. Griffin, chairman, chief executive officer and president of Skyworks

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