Skyworks Solutions Inc. ($SWKS) reported its first-quarter fiscal 2025 results, with revenue at $1.068 billion, down 11.1% year-over-year but up 4% quarter-over-quarter. The company's GAAP earnings per share (EPS) were $1.00, a decrease of 30.6% from the previous year, while non-GAAP EPS stood at $1.60, surpassing the estimate of $1.57. Revenue met the estimate of $1.07 billion. Net income for the quarter was $162 million, down from $231.3 million in the same period last year. Skyworks also announced the appointment of Philip Brace as CEO. The company's shares plummeted over 23% in after-hours trading following the announcement that it would see a 20-25% reduction in its content position in the next iPhone, starting to impact revenue from the fourth quarter of fiscal 2025. This setback is attributed to Apple's decision to dual-source radio frequency components, with analysts suggesting that Broadcom is the new supplier. Skyworks had previously lost business to Qualcomm, and the latest move by Apple, which accounted for 72% of Skyworks' revenue in the last quarter, is expected to reduce Skyworks' 2025 revenue by approximately $600 million. Skyworks also reported a free cash flow of $338 million and approved a new $2 billion stock repurchase program. In response to these developments, analysts from Stifel, Raymond James, and TD Cowen downgraded Skyworks' stock, reflecting concerns over its future revenue streams, leading to a 30.48% drop in the stock price premarket. The company provided guidance for the second quarter of fiscal 2025, expecting revenue between $935 million and $965 million, with an adjusted EPS of $1.20, compared to estimates of $940 million and $1.19, respectively.