Cadence Design Systems reported its third-quarter 2024 earnings with an adjusted earnings per share (EPS) of $1.64, exceeding estimates of $1.44 and representing a 30% year-over-year increase. Revenue reached $1.215 billion, surpassing expectations of $1.18 billion and marking a 19% increase compared to the previous year. In contrast, Qorvo's second-quarter fiscal 2025 results revealed a revenue of $1.047 billion, with a gross margin of 42.6%. The company reported a loss per share of $0.18, while on a non-GAAP basis, the gross margin was 47.0% with an operating income of $212.2 million. Qorvo's adjusted EPS was $1.88, slightly above the estimate of $1.85, but the company projected lower guidance for the third quarter, anticipating an adjusted EPS between $1.10 and $1.30, significantly below the estimate of $1.92. This led to a 15% drop in Qorvo's stock in after-hours trading, as concerns about smartphone demand surfaced, particularly affecting Apple, its largest customer. KLA Corporation also reported strong earnings, with a non-GAAP EPS of $7.33 and revenue of $2.84 billion, both exceeding estimates and reflecting an 18.6% year-over-year increase. The company provided guidance for the second quarter of fiscal 2025, projecting revenue of $2.95 billion, plus or minus $150 million, and a non-GAAP EPS of $7.75, plus or minus $0.60.