BUZZ-Apple supplier Skyworks plummets after downbeat forecast, CEO switch

Shares of chip co Skyworks Solutions SWKS.O plummet ~28% premarket to $62.70 after dour current qtr forecast

SWKS shares set to open at over 6-year low

Apple AAPL.O supplier late Weds said expects rev declines in its mobile segment and projected profits below estimates in Q2

"We anticipate a mid-to-high teens sequential decline in mobile, consistent with historical seasonal patterns," CFO Kris Sennesael said regarding Q2 outlook

Also, co said current CEO Liam Griffin to step down and be replaced by Inseego INSG.O exec chairman Philip Brace, who began his career at Intel INTC.O

At least 9 Wall Street analysts chop their PTs reacting to the news, per LSEG; Stifel downgrades SWKS to 'hold' from 'buy', Mizuho cuts rating to 'neutral' from 'outperform'

TD Cowen said in note Skyworks on earnings call indicated its lead mobile customer AAPL decided to dual source RF (radio frequency) components with a competitor, which the analysts believe is Broadcom AVGO.O, in upcoming iPhone 17 model

Of 29 analysts covering SWKS, recommendation breakdown is 3 "strong buy" or "buy", 23 "hold" and 3 "sell" or "strong sell"; median PT of $75 down from $110 on Nov 6 - LSEG

Through Weds, stock has lost ~15% over the past year