Business Is Still Good for Skyworks, Cirrus and Other Mobile Chip Suppliers

A few days after Apple (AAPL) reported lower-than-expected iPhone sales for the months preceding its iPhone 12 launches, Skyworks (SWKS) , Cirrus Logic (CRUS) and Silicon Motion (SIMO)  provided reminders that business is still pretty good for most mobile chip suppliers.

All three companies comfortably beat their September quarter estimates and issued strong December quarter guidance, with Skyworks and Cirrus issuing sales guidance ranges that were more than $100 million above consensus estimates. Each company also indicated that (after falling sharply this spring) smartphone demand continues rebounding well ahead of the holiday season.

Moreover, in their own ways, Skyworks, Cirrus and Silicon Motion each provided examples of how technology transitions and rising silicon content within smartphones are helping various mobile chip suppliers grow their top lines at a faster rate than smartphone unit sales.

Skyworks, not surprisingly, reiterated that the demanding RF front-end needs of 5G phones are boosting its

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