Qorvo Shares Drop After Weak Outlook Flags Apple-Related Slowdown
January 28, 2026 10:50 AM
IH Market News
Shares of Qorvo Inc (NASDAQ:QRVO) fell around 10% in U.S. premarket trading on Wednesday after the radio-frequency chipmaker issued softer-than-expected guidance for the current quarter, citing weaker seasonal demand from its largest customer, Apple (NASDAQ:AAPL).
Qorvo, which is in the process of being acquired by larger rival Skyworks Solutions Inc (NASDAQ:SWKS), supplies radio-frequency components such as filters and switches used in smartphones. Its technology is also deployed across a broad range of end markets, including automotive, power management, defense and aerospace.
For its fiscal third quarter, Qorvo reported earnings of $2.17 per share, beating analysts’ expectations by 31 cents. Revenue reached $993 million, slightly ahead of Wall Street forecasts of $988.69 million.
However, the company’s forward guidance disappointed investors. For the current quarter, Qorvo expects earnings of between $1.05 and $1.35 per share on revenue of $775.00 million to $825.00 million. Analysts had been looking for profit of $1.37 per share on revenue of $903.80 million.
“Our March quarterly outlook reflects the seasonal decline at our largest customer,” Qorvo CEO Bob Bruggeworth said in a statement, referring to Apple, which generates nearly half of the company’s total revenue. Bruggeworth also pointed to “the ongoing strategic resizing of our Android business, and continued strength in high performance analog business, which focuses on providing radio frequency solutions.”
Qorvo and Skyworks unveiled plans for their merger in October 2025, agreeing to combine in a $22 billion cash-and-stock transaction. The deal is expected to close early next year.
Commenting on the tie-up, Morgan Stanley analysts said “[p]art of the rationale for the deal is that it would help stabilize content in between cycles,” but cautioned that this “could be challenging if both companies are struggling to hold share against competitors.”
“That being said, enhanced scale and pooled R&D capabilities should help strengthen their competitiveness and increase their leverage with Apple in future cycles,” the analysts added.
Qorvo stock price
Apple stock price
Skyworks Solutions stock price
Original: Qorvo Shares Drop After Weak Outlook Flags Apple-Related Slowdown
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