Qorvo Braves the Coronavirus Headwinds, but Should You Buy?
For a company that gets the majority of its revenue from selling components for smartphones, Qorvo's (NASDAQ: QRVO) fiscal fourth-quarter results turned out to be a revelation.
The semiconductor company had raised a red flag back in March when it slashed its quarterly guidance by a substantial margin on account of the novel coronavirus outbreak. Qorvo had reduced its March quarter revenue guidance to $770 million from the original estimate of $800 million to $840 million. But demand for 5G smartphones and infrastructure pushed the company's revenue to $788 million during the quarter, up almost 16% from the prior-year period.
But that was not the only silver lining from Qorvo's quarterly results.
Source Fool.com
