Summit Insights downgraded Skyworks (SWKS) to Hold from Buy after its Q4 results and below-consensus Q1 guidance. The company remained extremely well positioned at Apple (AAPL) and with Mediatek, but there aren’t enough catalysts in 2024 for meaningful outperformance, the analyst tells investors in a research note. The firm further states its initial research suggests that the smartphone total addressable market in 2024 will be flat to up modestly vs. 2023.
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