Apple Supplier Qorvo Could Stoke Chip M&A Frenzy
Apple’s (AAPL) iPhone “elephant in the room” clouded Qorvo’s (QRVO) otherwise upbeat analyst day, an MKM analyst wrote late Tuesday as he suggested that the chipmaker might be considering a hefty M&A play. Qorvo stock closed up 5.6% in the stock market today at 54.74. March-quarter expectations for a 10%-15% depression in iPhone sales remained unchanged, MKM analyst Ian Ing noted in a research report. Ing retired his 71 price target and buy rating