KeyBanc analyst John Vinh downgraded Skyworks Solutions (SWKS) to Sector Weight from Overweight. The downgrade reflects a deteriorating outlook for the global smartphone market.
Vinh noted that assumptions from an October 2025 upgrade regarding a pending Qorvo acquisition are no longer valid. Worsening conditions now affect major manufacturers including Apple and Samsung.
Severe and persistent memory shortages driven by data center demand compound these challenges. Skyworks generates more than 60% of its revenue from the contracting smartphone segment.