Qorvo: Not My Cup Of Tea During Smartphone Downturn - Initiating With A Sell [Seeking Alpha]
Qorvo, Inc. (QRVO)
Last qorvo, inc. earnings: 1/29 04:00 pm
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US:NASDAQ Investor Relations:
ir.qorvo.com/investor-relations
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Source: Seeking Alpha
I think the company is much too exposed to the smartphone market to be able to outperform given the current smartphone weakness. Qorvo makes around 79% of all its money from its advanced cellular group, which was flat sequentially this quarter. Apple's declining sales in China and the overall slowdown in the Chinese market are red flags for Qorvo's performance. I share my thoughts on Qorvo here and why I think it'll underperform expectations over the coming quarter. Investment Thesis Earlier this quarter, Qorvo ( NASDAQ: QRVO ) reported results for the third quarter of FY24 and its outlook for next quarter; I'm unconvinced of Qorvo's growth story for 4Q24 and 1HFY25 due to smartphone weakness. I recommend investors take advantage of the stock's current price to explore exit points or trim their exposure. The wireless connectivity chipmaker's stock is up ~20% over the past six months and ~18% over the past three months, outperforming the S&P 500 by ~16% and 12% during the
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QRVO
News
- Qorvo® Announces Date of 2024 Investor DayGlobeNewswire
- Qorvo® to Webcast Quarterly Earnings Conference Call on May 1, 2024GlobeNewswire
- Qorvo, Inc.'s (NASDAQ:QRVO) Intrinsic Value Is Potentially 58% Above Its Share Price [Yahoo! Finance]Yahoo! Finance
- Qorvo, Inc. (NASDAQ: QRVO) had its "neutral" rating re-affirmed by analysts at Susquehanna. They now have a $100.00 price target on the stock.MarketBeat
- Global Smartphone Radio Frequency Industry Report 2024: Identify Opportunities Arising from the U.S. Ban, and Examine the Impact of Chinese Players [Yahoo! Finance]Yahoo! Finance
QRVO
Earnings
- 1/31/24 - Beat
QRVO
Sec Filings
- 4/26/24 - Form 8-K
- 3/5/24 - Form 4
- 3/1/24 - Form 144
- QRVO's page on the SEC website