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Fly News Breaks for May 16, 2016
SWKS
May 16, 2016 | 06:39 EDT
Citi analyst Atif Malik lowered his price target for Skyworks Solutions to $69.50 citing weak iPhone 7 supply chain news. Apple supply chain news flow indicates weak iPhone 7 unit expectations in the second half of 2016, Malik tells investors in a research note. He expects Skyworks shares to remain volatile with iPhone expectations continuing to come down. The analyst also believes the company's CEO change is poorly timed. He keeps a Neutral rating on Skyworks.
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