Will the Internet of Things Be Qorvo’s Saving Grace?
While radio-frequency (RF) chip suppliers such as Skyworks Solutions (NASDAQ: SWKS) and Broadcom are expecting big gains from Apple's new iPhone generation, fellow vendor Qorvo (NASDAQ: QRVO) has a different story to tell. It seems to be losing ground to its rivals in smartphone chips. Smartphone chips is already a big market and is expected to keep growing, thanks to Apple's success and the growth of Chinese smartphone companies.
On the other hand, Qorvo's guidance for the current quarter suggests a year-over-year decline in revenue, which raises a red flag as it gets around a third of its revenue by selling iPhone chips. Not surprisingly, the RF chip specialist is now trying to find new avenues to mitigate its sliding influence in the smartphone space -- such as the Internet of Things (IoT).
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Source: Fool.com
Skyworks Solutions Inc. Stock
With 15 Buy predictions and only 1 Sell predictions the community sentiment for the stock is positive.
As a result the target price of 114 € shows a slightly positive potential of 5.09% compared to the current price of 108.48 € for Skyworks Solutions Inc..
