Qorvo's Strategic Wins with Apple and China's Android Stability - Still Analysts Lower Price Targets After Q2
Portfolio Pulse from Anusuya Lahiri
Analysts have lowered their price targets for Qorvo Inc (QRVO) despite the company's strategic wins with Apple and stability in China's Android market. QRVO reported a solid upside for the September quarter and a promising outlook for the December quarter. The company is benefiting from significant content gains in iPhone 15 and is optimistic about additional content opportunities with Apple. The Android market in China is stabilizing, and QRVO is doing well with Samsung and Alphabet Inc. However, analysts have lowered their price targets due to recent multiple contractions in the sector.
November 02, 2023 | 8:00 pm
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NEUTRAL IMPACT
Qorvo Inc (QRVO) is benefiting from significant content gains in iPhone 15 and is optimistic about additional content opportunities with Apple.
While the news is positive for QRVO's relationship with Apple, it does not directly impact Apple's stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
Qorvo Inc (QRVO) is doing well with Alphabet Inc, indicating a stable partnership.
The news indicates a stable partnership between QRVO and Alphabet Inc, but it does not directly impact Alphabet's stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
Analysts have lowered their price targets for Qorvo Inc (QRVO) despite the company's strategic wins with Apple and stability in China's Android market.
The lowering of price targets by analysts indicates a potential negative impact on QRVO's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100