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    Qorvo Inc (QRVO)

    Q2 2024 Earnings Summary

    Reported on Jan 4, 2025 (After Market Close)
    Pre-Earnings Price$87.82Last close (Nov 1, 2023)
    Post-Earnings Price$90.21Open (Nov 2, 2023)
    Price Change
    $2.39(+2.72%)
    • Bull Case for QRVO Based on Q&A Section of Earnings Call Transcript:*
    • Channel inventories are normalizing faster than expected, shifting from a headwind to a tailwind, leading to anticipated revenue growth in upcoming quarters. ,
    • Qorvo secured significant ultra-wideband design wins, including a $250 million lifetime value automotive program with a leading German Tier 1, highlighting substantial future growth opportunities in both automotive and smartphone markets. ,
    • Gross margins are expected to decline in the December quarter to between 43% and 44% due to selling higher-cost inventories manufactured during periods of lower utilization.
    • Revenue is increasingly dependent on the largest customer, potentially contributing over 50% of total revenue, raising concerns about customer concentration risk.
    • Uncertainty in the China Android market persists, with channel inventories not fully normalized and potential competition from Huawei impacting future revenues.