Citigroup gets negative on chip stocks, citing weak iPhone demand

Citigroup gets negative on chip stocks, citing weak iPhone demand

6 years ago
Anonymous $L9wC17otzH

https://www.cnbc.com/2018/11/12/apple-chip-supplier-skyworks-downgraded-on-broad-smartphone-weakness.html

Semiconductor producer Skyworks Solutions was downgraded at Citigroup on Monday in light of Apple's weaker-than-expected iPhone XR outlook and softer smartphone demand in China.

"We are downgrading Skyworks Solutions to neutral from buy post the earnings season based on broad smartphone weakness observation in China and disappointing iPhone XR unit sales, which will likely hinder radio frequency semis growth in 2019," analyst Atif Malik wrote in a note to clients. "Additionally, we now think that 5G is a 2020 story versus our prior 2019 view with little upside in 2019 from 5G implementation."

Last Seen
59 minutes ago
Reputation
0
Spam
0.000
Last Seen
20 minutes ago
Reputation
0
Spam
0.000
Last Seen
5 hours ago
Reputation
0
Spam
0.000
Last Seen
15 minutes ago
Reputation
0
Spam
0.000
Last Seen
about an hour ago
Reputation
0
Spam
0.000
Last Seen
2 hours ago
Reputation
0
Spam
0.000
Last Seen
2 hours ago
Reputation
0
Spam
0.000
Last Seen
21 minutes ago
Reputation
0
Spam
0.000
Last Seen
2 hours ago
Reputation
0
Spam
0.000