Woburn-Based Skyworks' Stock Plummets Amid IPhone Production Reports

The Woburn-based mobile phone chip producer Skyworks Solutions could be facing an uncertain future as a result of lagging Apple sales.

The Nikkei Asian Review reported Wednesday that Apple would be reducing its output of iPhone 6 plus and iPhone 6s by 30 percent this quarter. This news has negatively affected the price of Skyworks’ stock, with prices falling by nearly 5 percent on Tuesday according to the Boston Business Journal.

Skyworks’ stock prices have fallen to $70.10 or by 4.35 percent as of 12:30 p.m. on Wednesday and have fallen by 12.5 percent or $10.10 in the last five days.

Apple uses chips from Skyworks to power their iPhone 6s and iPhone 6plus devices among other chip producers. Apple has recently reported lagging sales and even decreased prices in India as a result of decreased demand for the phones, reports the Boston Business Journal.

Patch attempted to reach out to Skyworks Solutions, but the firm was not immediately available for comment.

Photo by Pang Kakit.

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