Is It Time to Retreat on Qorvo?
Radio frequency chipmaker Qorvo (NASDAQ: QRVO) experienced phenomenal growth in 2019, with the stock's value increasing by more than 90%. Considering the stock's high growth last year, should investors consider taking profits now and reallocating the money to a competitor with better growth prospects for 2020?
Let's discuss Qorvo's story. The success comes from its unique competitive strengths in wireless communication technologies such as 5G networks, cloud computing, and Internet of Things (IoT) technology. This has allowed the company to provide positive revenue growth for the past two quarters.
Its recent fiscal third-quarter 2020 earnings topped analysts' expectations, making it the fourth consecutive time the company beat Wall Street's consensus. Following the report on Jan. 29, Qorvo's stock is trading lower by nearly 9%.
Source Fool.com
