Qorvo Investors Will Be Scrutinizing the iPhone Effect
Apple (NASDAQ: AAPL) supplier Qorvo (NASDAQ: QRVO) has a lot to prove when it releases its second-quarter earnings after the market closes on Nov 1. Investors have given the chipmaker the benefit of the doubt so far this year, with the stock gaining roughly 40% so far in 2017 despite clear indications that its business is on the wane.
Apple reportedly supplies a third of Qorvo's revenue, so investors are possibly expecting Qorvo to report windfall gains after the launch of Apple's new iPhones. But that might not be the case, thanks to the intense competition for radio frequency chip spots in the latest-generation devices, and it won't be surprising if Qorvo's upcoming results and outlook fail to satisfy investors' expectations. Let's take a closer look.
Image source: Qorvo.
Source: Fool.com
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