This Smartphone Chip Supplier Is Holding Steady Amid the Coronavirus Blues
Synaptics (NASDAQ: SYNA) looked like a top stock at the beginning of the year thanks to a bunch of tailwinds in the smartphone, PC, and Internet of Things markets. But the chipmaker has found the going tough so far in 2020 as the novel coronavirus outbreak has dented its momentum, as evident from the company's latest quarterly results.
When Synaptics released its fiscal 2020 third-quarter earnings on May 7, its revenue of $328.1 million missed the lower end of the $330 million to $350 million guidance range. The top line fell 2% year over year as supply chain disruptions caused by the pandemic led to production delays for Synaptics' customers.
But a closer look at the quarterly results reveals that the company is doing well despite these coronavirus-related headwinds.
Source Fool.com
