Skyworks Solutions (NASDAQ: SWKS) reported its fiscal 2023 first-quarter results on Feb. 6, with revenue and earnings per share figures in line with analysts' estimates. Looking forward, however, the current quarter's guidance came in well below expectations. Even then, bullish investors bid the stock up 12.5% the day after the release, shrugging off concerns around an overall terrible holiday quarter for the smartphone industry, with worldwide smartphone shipments down 18.3% year over year, according to IDC.

Considering the global economy still faces significant uncertainty, should you invest in the stock after its recent jump or remain cautious in the current environment?

Skyworks grappled with multiple headwinds in 2022, including weak demand for consumer electronics, high inventory levels from a component supply glut, supply chain disruptions, a collapsing market for Android in China, and COVID-19 lockdowns in China that negatively impacted major smartphone manufacturers. These problems combined to drive its revenue and profits lower in 2022.

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Source Fool.com