Qorvo Inc

QRVO: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Qorvo Earnings: Slashing our Fair Value to $85 from $128 Due to Ugly Guidance and Mix Shift

Brian Colello

Oct 30, 2024

No-moat Qorvo reported decent second-quarter results, but the bigger story is the firm’s gloomy outlook for the December quarter and the start of calendar 2025. Qorvo appears to have surprisingly lost some radio frequency chip content within Samsung’s upcoming phones and is suffering from a mix shift in Andriod-based smartphones worldwide toward entry-level, rather than mid-tier, devices where Qorvo has less RF content. Qorvo’s business with Apple’s latest iPhone 16 launch also doesn’t appear stellar at the moment.

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Qorvo Inc

Qorvo Earnings: Slashing our Fair Value to $85 from $128 Due to Ugly Guidance and Mix Shift

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