• Sat. Sep 26th, 2020

Dimancherouge

Technology

Qorvo Raises Guidance – What Wall Street Is Saying

Shares of semiconductor maker Qorvo  (QRVO) – Get Report are rising after analyst published bullish notes on the company raised its second quarter guidance.

The Apple  (AAPL) – Get Report supplier derives about 33% of its revenue from the chips it makes for the iPhone maker, leading some to suggest the new guidance could reflect stronger that expected Apple orders ahead of the launch of the company’s iPhone 12. 

Barclays (Equal Weight rating and $125 PT unchanged)

The upside is directionally consistent with the strong Android  (GOOGL) – Get Report builds we are hearing from other radio-frequency players into the second half, but QRVO is clearly seeing the strongest tailwind. We believe upside from Samsung is likely a big factor as we have heard Samsung’s SSNLF A series, where QRVO has high share, is expected to increase to high 50 million units in the third quarter and 50 million in the fourth quarter from 40 million in the second quarter.

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