BUZZ-Apple supplier Skyworks falls after Q2 profit forecast below estimates

Shares of chip firm Skyworks Solutions SWKS.O tumble 23% to $67.00 in extended trade

The Apple supplier expects Q2 profit below estimates and decline in revenue across its segments in Q2

Co names former Intel INTC.O and Inseego INSG.O executive Philip Brace as its next CEO

Expects Q2 adj EPS of $1.20, below estimates of $1.22

Q2 revenue forecast of $935 million to $965 million, largely in-line with estimates of $949 mln

Anticipate a mid-to-high teens sequential decline in mobile, consistent with historical seasonal patterns in Q2 — CFO Kris Sennesael

In 2024, stock fell 21%