On July 29, Skyworks Solutions declined 9.38% overnight, trading at $58.06/share, with Turnover of $5,004.9. The drop came despite the company reporting fiscal Q3 results that exceeded analyst expectations, as forward guidance disappointed and a classic profit-taking pattern emerged.

Skyworks posted fiscal Q3 adjusted EPS of $1.08, beating the consensus estimate of $1.01-$1.02 by approximately 6.9%, while revenue of $934.8 million also surpassed the $920.3 million estimate. However, the company guided Q4 adjusted EPS to $1.27 at the midpoint of its revenue range of $1.01-$1.06 billion, falling short of the FactSet estimate of $1.29. Notably, adjusted EPS declined 18.8% year-over-year from $1.33 in the prior-year period.

The selloff was amplified by the fact that shares had already rallied over 5% during regular trading ahead of the earnings release, fully pricing in an upside scenario. KeyBanc had previously flagged that Apple inventory reductions could weigh on Skyworks' near-term outlook, adding uncertainty to the forward trajectory. The combination of a slight guidance miss, pre-earnings run-up, and concerns over Apple demand created a pronounced sell-the-news reaction.

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