This Beaten-Down 5G Stock Could Go Parabolic in 2022
Shares of Qorvo (NASDAQ: QRVO) have been hammered on the stock market over the past three months thanks to several factors ranging from weak quarterly guidance, Apple's (NASDAQ: AAPL) supply chain problems, and the broader sell-off that has greeted tech stocks this year.
The stock price of the chipmaker, which counts Apple as its largest customer, is down more than 27% since releasing its fiscal 2022 second-quarter results on Nov. 3, 2021. This sell-off was triggered by Qorvo's tepid Q3 revenue guidance, and the stock has failed to recover ground ever since. However, don't be surprised to see Qorvo stock spring back to life when it releases its fiscal 2022 third-quarter earnings report on Wednesday, Feb. 2.
Let's look at the reasons why Qorvo could spring a surprise and outpace the market's expectations.
Source Fool.com
