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Two Irvine-based tech companies last week reported quarterly results that are foreshadowing future industry trends.Skyworks Solutions Inc. forecast on April 30 that its fiscal third-quarter sales and adjusted profit will be much lower than analysts expected. It cited slowing mobile device sales. Shares dropped 15% in the following trading session to $90.30, for a $14.4 billion market cap (Nasdaq: SWKS). ....
Skyworks Solutions expects revenue of $900 mn for June-quarter telecomlead.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from telecomlead.com Daily Mail and Mail on Sunday newspapers.
Skyworks Solutions: The company sees its "mobile business to be down sequentially, below normal seasonal patterns, as excess inventory clears. In broad markets, we anticipate further modest growth as inventory levels appear to be normalizing in certain end markets" in the third quarter, according to Skyworks CFO Kris Sennesael. ....