Will Qorvo Inc Stock Get a Reality Check After Q1 Earnings?
Qorvo (NASDAQ: QRVO) investors have been lucky this year as the company's shares have made impressive gains despite inconsistent results. The chip specialist had started 2017 on the wrong foot as its fourth-quarter guidance didn't match up to Wall Street's estimates. The trend continued into the next quarter, with Qorvo setting weak guidance for the upcoming first-quarter fiscal 2018 results.
Still, Qorvo shares are up close to 30% this year as investors are betting on the possibility of windfall gains from Apple's next iPhone. This is quite possible given that the company gets around a third of its revenue from Cupertino. But Qorvo could give investors a harsh reality check when it releases its first-quarter results on Aug. 2. Here's why.
Image Source: Qorvo
Source: Fool.com
Qorvo Inc. Stock
Our community is currently high on Qorvo Inc. with 16 Buy predictions and 3 Sell predictions.
As a result the target price of 110 € shows a slightly positive potential of 13.05% compared to the current price of 97.3 € for Qorvo Inc..
