Why You Should Be Staying Away From This IoT Stock

Synaptics (NASDAQ: SYNA) has been trying to turn its business around for quite some time, trying one play after the other. But the chipmaker has been hamstrung by the weakness in the smartphone market, while its foray into the Internet of Things (IoT) hasn't borne much fruit so far.

However, Synaptics' promise that its IoT business will start getting better from the fiscal fourth quarter seems to have raised investors' hopes since the last earnings report. So a lot is going to hinge on the view investors get on how the company's IoT business is performing when it releases its fourth-quarter fiscal 2019 results on Aug. 8.

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