Actionable news
0
All posts from Actionable news
Actionable news in QRVO: QORVO Inc,

Apple Supplier's Forecasts Could Signal an Aggressive iPhone 7 Ramp-Up

Wireless chip company Qorvo ( QRVO) strong guidance for the coming quarter could provide a window into the launch of Apple ( AAPL) iPhone 7 in September.

Qorvo said after the close Tuesday that it expects to generate $820 million to $850 million in sales during the fiscal second quarter, which ends in September, while Wall Street had expected $714 million. While Qorvo expects sales to pick up, it also said that its product mix could squeeze margins. Shares dropped $7.21, or 11.7%, to $54.24 on Wednesday.

"In the September quarter, we continue to see strong demand and support of this year's most popular devices and we're rapidly expanding our capabilities to develop new, highly integrated solutions for large customer opportunities launching in 2017 and 2018," CEO Robert Bruggeworth...


More