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Huawei Restrictions Hit Skyworks Solutions

TheMotleyFool

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Huawei Restrictions Hit Skyworks SolutionsPhoto, wide shot, wide-angle lens, Computer hardware manufacturer, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Edward Burtynsky: https://img.theapi.app/temp/32e7a10f-efd0-424a-861f-2f3e0bb7ce02.png

Skyworks Solutions (NASDAQ: SWKS), a maker of specialty semiconductors, reported its fiscal 2019 third-quarter results on Thursday.

Investors were previously warned that it was going to be a tough quarter. The mobile industry is in flux, and Skyworks depends on strong mobile sales to drive its results.

As if that backdrop wasn't tough enough, the U.S. government added Huawei Technologies to its Entity List, forcing Skyworks to cease all business with the company. That's a big problem because Huawei represented about 12% of its trailing-12-month sales; Skyworks management was forced to cut its third-quarter revenue and profit guidance in June.

Quelle Fool.com

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