Skyworks Solutions (SWKS) stock was up nearly 1% Thursday afternoon, after the Apple (AAPL) chip supplier announced it will expand operations in Osaka, Japan. Skyworks teamed up with Osaka-based Panasonic in April 2014 to design and develop high-performance filters for use in mobile devices and the emerging Internet Of Things markets. Skyworks expects its expansion — a two-story, 405,000-square-foot facility — to be complete by September,
IBD’s latest Screen of the Day is Accelerating Mutual Fund Ownership, which lists the companies that mutual funds have been loading up on recently. The semiconductor sector had been hot this year, but Apple’s (AAPL) recent slide after it reported lower-than-expected iPhone sales dragged down many of its chip suppliers, including Skyworks Solutions (SWKS), Cirrus Logic (CRUS), Qorvo (QRVO), NXP Semiconductors (NXPI) and Avago Technologies (AVGO).
Apple (AAPL) shares got whacked again in the stock market today, and the stock’s plunge also looks to be affecting its chip suppliers, including Skyworks Solutions (SWKS), Cirrus Logic (CRUS) and Qorvo (QRVO). Shares sank as much as 4.3% in huge volume Tuesday, dropping to their lowest level in more than six months. The stock has now fallen for 10 out of the past 11 straight sessions. In Monday’s session, the stock broke below its 200-day moving