Morgan Stanley Maintains Equalweight on Skyworks (SWKS), Cuts Price Target Amid Broadcom Content Loss

Skyworks Solutions, Inc. (NASDAQ:SWKS) ranks among the best 5G stocks to buy now. Morgan Stanley retained its Equalweight rating on Skyworks Solutions, Inc. (NASDAQ:SWKS) and reduced its price target from $68 to $65 on August 6. Based in part on Apple’s previous remarks, the research firm noticed that the supply chain for smartphones has outperformed expectations during the current earnings period.

Morgan Stanley emphasized that Skyworks Solutions, Inc. (NASDAQ:SWKS) faced difficulties in adjusting content movements, such as content loss to Broadcom, though benefits remain as Apple switches to internal baseband technology.

On the other hand, the firms stated that although Skyworks Solutions, Inc. (NASDAQ:SWKS) reported strong numbers, this might only postpone “inevitable headwinds” for the company.

Skyworks Solutions, Inc. (NASDAQ:SWKS) is a semiconductor company that specializes in high-performance analog semiconductors. The company is at the forefront of creating the key technologies needed for 5G connection. Its SKY5 platform offers advanced technologies that support dependable, fast 5G performance on user devices as well as infrastructure.

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Disclosure: None. This article is originally published at Insider Monkey.