Stock Track | Skyworks Solutions Soars 5.02% in Pre-Market as Morgan Stanley Lifts Price Target Amid Steady Apple Demand
Stock Track
Feb 04
Skyworks Solutions (SWKS) stock surged 5.02% in pre-market trading on Wednesday, showing strong investor confidence ahead of the regular session.
The significant price movement appears to be driven by positive analyst sentiment, with Morgan Stanley lifting its price target on Skyworks Solutions to $69 from $68 while maintaining an Equalweight rating. This upward revision comes amid reports of steady demand from Apple, a key customer for Skyworks' semiconductor components.
Analysts note that Skyworks continues to benefit from its relationship with Apple, with steady demand helping to offset margin pressures and merger timing risks that the company faces in the current market environment.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.