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Skyworks (SWKS) Stock Down, Apple Headwinds Weigh

NEW YORK (TheStreet) -- Shares of Skyworks Solutions (SWKS) are plunging 8.87% to $64.63 on heavy trading volume Friday afternoon as analysts express concerns about a spike in inventories.

Inventories grew 35% in the third quarter on an absolute basis, indicating a "much more muted" Apple (AAPL) iPhone 7 ramp and weakness within legacy models, Pacific Crest said in a note released this morning.

"With Apple revenue expected to decline greater than 25% year-over-year in the September quarter, despite [radio frequency (RF)] content gains...