Skyworks Is Stuck With Investors’ Suit Over iPhone Chip Sourcing

Skyworks Solutions Inc. must face investors’ claims that it misrepresented the number of radio-frequency chips per phone it expected to supply to Apple Inc., its largest customer, a federal court ruled.

The investors adequately pleaded material omissions in top executives’ optimistic statements about Apple’s chip sourcing for the iPhone 16 and iPhone 17, the US District Court for the Central District of California said. And they sufficiently supported allegations of “deliberate recklessness,” Judge David O. Carter said Wednesday in denying Skyworks’ dismissal request.

The proposed class action revolves around a 25% share-price decline in February 2025—the stock’s steepest in ...