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Chipmaker Skyworks forecasts upbeat quarter; shares up 12 pecrent

23
Apr
2014

Chipmaker Skyworks Solutions Inc’s second-quarter results and current-quarter forecast beat Wall Street estimates, helped by strong sales of chips used to connect machines to the Internet. Shares of the company, whose radio frequency analog chips connect electronic devices to a network, rose 12 percent in extended trading on Tuesday. Skyworks, whose chips connect smartphones and tablets to a telecom network, expects revenue from Samsung Electronics Co Ltd to rise this year, driven by the use of its chips in the South Korean company’s wide range of smartphones, including the successful Galaxy S5. Besides Samsung, Skyworks also supplies chips to Apple Inc’s largest contract manufacturer, Foxconn Technology Group.

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