2024-01-26 13:00:00 ET
Summary
- Last week, a tech-led rally helped send the market to new record levels amid rising expectations of interest rate cuts.
- Hopes for a global microchip recovery were boosted when Taiwan Semiconductor Manufacturing projected sales growth in the low-to-mid 20% range.
- A major semiconductor supplier to Apple and Samsung, Qorvo’s worldwide smartphone shipments were up 8% in Q423, ending seven straight quarters of decline.
- Qorvo is a top Quant-rated stock with EPS projected to rise +35% next fiscal year based on analyst consensus and has 24 analyst upward revisions in the last 90 days.
Qorvo, Inc. ( QRVO ) provides microchips and other technologies used in smartphones, laptops, and other devices. Qorvo also services the power management, IoT, defense, and automotive industries. The company is headquartered in North Carolina with 50 engineering, manufacturing, and sales facilities based in North America (12), the Asia Pacific (18), and Europe (12)....
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Qorvo: Riding The Microchip Rebound (SA Quant)