AMD records $1.07 billion charge tied to OpenAI and Meta warrants
The equity incentives could give each customer roughly 10% of the chipmaker, subject to conditions tied to their chip-purchase agreements.
Skyworks shares fall more than 14% as outlook misses estimates
The chipmaker expects a sequential decline in smartphone revenue and said it completed its Qorvo acquisition after the fiscal fourth quarter.
Skyworks Solutions shares fell more than 14% in extended trading after the chipmaker issued a November 3 forecast that put both first-quarter revenue and adjusted profit below Wall Street estimates.
The company projected revenue between $1.80 billion and $1.90 billion for the first quarter, against an analyst estimate of about $1.99 billion. Its adjusted earnings forecast was $1.25 per share, compared with expectations of about $1.52, based on estimates compiled by LSEG.
Skyworks expects smartphone revenue to fall sequentially by a percentage in the low teens, citing seasonal patterns and weakness in the premium Android segment.
For the fiscal fourth quarter, the company posted $1.05 billion in revenue, exceeding the $1.04 billion analysts had expected. Skyworks also said its acquisition of Qorvo closed after that quarter ended. It expects the combined business to deliver annual cost savings of at least $500 million.