Skyworks Solutions forecasts upbeat earnings as 5G adoption lifts chip demand

Skyworks Solutions forecast second-quarter earnings ‍above estimates on Tuesday, signaling strong demand for ⁠its chips used in 5G phones.

The shares of the company rose about 2% in extended ‌trading.

The company, ‌which is also a supplier for Apple’s 5G ‌iPhones, has been benefiting from the increased adoption of the service which uses radio-frequency chips.

The chipmaker has further reaped the benefits from growing demand of iPhones, especially iPhone 17, which lifted ‌sales ‍across key markets.