Qorvo manufactures components for mobile devices, among other things, so it is one of those companies that sees its fortunes rise and fall with the success of Apple (Apple has a habit of making or breaking the year for some companies – but that’s another discussion). Of course, relying heavily on one revenue source is a dangerous game, but when it works, stocks can soar to new heights. This has been the case lately for Qorvo.
I like the action on the chart so far in 2017. The name has enjoyed good volume and price action, and now it looks like the stock is creating a double top (circled). The range that was in place for the second half of 2016 was broken to the upside in a fierce move, and all the indicators are bullish. Relative strength poked over the 70 level, an overbought area (but that’s not necessarily a sell signal). Perhaps a modest pullback is coming, in which case that dip might be another chance to buy.
Qorvo (Nasdaq: QRVO) Video Chart Analysis
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About Qorvo
Qorvo, Inc. provides technologies and radio frequency (RF) solutions for mobile, infrastructure, and defense and aerospace applications worldwide. It operates through Mobile Products (MP) and Infrastructure and Defense Products (IDP) segments. The MP segment offers RF front end modules that combine high-performance filters, power amplifiers (PA), low noise amplifiers and switches, PA modules, transmit modules, antenna control solutions, antenna switch modules, diversity receive modules, and envelope tracking power management devices. This segment supplies its RF solutions into mobile devices, including smartphones, notebook computers, wearables, tablets, and cellular-based applications for the Internet of things. The IDP segment provides high power gallium arsenide, gallium nitride power amplifiers, low noise amplifiers, switches, radio frequency filter solutions, CMOS system-on-a-chip solutions, fixed frequency and voltage-controlled oscillators, filters, attenuators, modulators, driver and transimpedance amplifiers, and various multichip and hybrid assemblies. This segment supplies its RF solutions to wireless network infrastructure, defense, and aerospace markets; and connectivity applications for commercial, consumer, industrial, and automotive markets. The company sells its products directly to customers, as well as through a network of domestic and foreign sales representative firms and distributors to original equipment manufacturers and original design manufacturers. Qorvo, Inc. is headquartered in Greensboro, North Carolina.
