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Where Will Skyworks Solutions Stock Be in 1 Year?

TheMotleyFool

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Where Will Skyworks Solutions Stock Be in 1 Year?: https://g.foolcdn.com/editorial/images/719870/gettyimages-887333134.jpg

Skyworks Solutions' (NASDAQ: SWKS) stock rose 13% on Feb. 7 after it posted its latest earnings report. For the first quarter of fiscal 2023, which ended on Dec. 30, the diversified chipmaker's revenue dropped 12% year over year to $1.33 billion but still exceeded analysts' estimates by $10 million. Its adjusted net income declined 21% to $415 million, or $2.59 per share, which missed the consensus forecast by a penny.

Those declines weren't surprising, since the semiconductor sector is currently in the midst of a cyclical downturn, but will Skyworks' growth stabilize by the end of 2023 and lift its stock higher?

Image source: Getty Images.

Source Fool.com

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