Qorvo, Inc. QRVO recently provided an update on second-quarter fiscal 2021 outlook.The company now anticipates fiscal second-quarter revenues in the band of $1 billion to $1.03 billion (mid-point of $1.015 billion), up from its prior range of $925-$955 million (mid-point of $940 million) citing increased demand for 4G and 5G mobile products utilized in flagship smartphones. It reflects an improvement of almost 8% considering mid-point level.The Zacks Consensus Estimate is currently pegged at $940.3 million.Non-GAAP earnings per share have been predicted to be $2.14 per share, up from the previous guidance of $1.90 per share. The Zacks Consensus Estimate stands at $1.91 per share.Following encouraging guidance revision, shares of Qorvo are up more than 6% in the pre-market on Sep 9. Moreover, Qorvo’s peers including Skyworks SWKS, Lumentum LITE and Qualcomm QCOM are up 3.2%, 2.3% and 3.1%, respectively, in the pre-market trading.Qorvo, Inc. Revenue (Quarterly) Qorvo, Inc. revenue-quarterly | Qorvo, Inc. QuoteHowever, management continues to anticipate non-GAAP gross margin at 50%.Strength in Mobile Product Portfolio: A Key CatalystQorvo is benefiting from increase in production ramp of 5G smartphones. Solid uptake of Bulk Acoustic Wave (BAW) filters, as economies started to reopen, is expected to boost top line growth.Moreover, robust mobile growth in China (primarily backed by 5G) and expanding portfolio of 5G base solutions amid accelerated deployment of 5G bodes well. Besides growing momentum for Qorvo’s Gallium Nitride (GaN) technology-based solutions is a positive.This is expected to instill investors optimism in the stock in the days ahead. Qorvo’s stock has fallen 1.8% year to date, compared with industry’s decline of 3.6%.Notably, Qorvo’s cellular RF and WiFi solutions find application in a variety of mobile devices, including smartphones, notebook computers, wearables, tablets, and cellular-based applications.Being a prominent supplier to Apple, seasonal iPhone upgrades hold promise for Qorvo. Also, improving iPhone sales despite coronavirus breakout is a tailwind.Specifically, momentum in 5G is expected to drive the company’s RF revenues in 2020 and beyond.Further, booming WiFi-6 cycle, and increasing proliferation of IoT are expected to generate incremental revenues in the days ahead. Positive Earnings Estimate RevisionQorvo has an impressive earnings surprise history. The company beat estimates in each of the trailing four quarters, the average surprise being 20%.Moreover, over the last 60 days, fiscal 2021 estimates were revised, driving the Zacks Consensus Estimate by 18.5%, to $6.60 per share.Further, the company has a long-term expected EPS growth rate of 11.4%.Robust adoption of the company’s solutions in defense (advanced radars and other electronic warfare products) and connectivity (Wi-Fi 6 and emerging IoT applications) is expected to bolster growth prospects.Qorvo currently flaunts a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.Zacks’ Single Best Pick to DoubleFrom thousands of stocks, 5 Zacks experts each picked their favorite to gain +100% or more in months to come. From those 5, Zacks Director of Research, Sheraz Mian hand-picks one to have the most explosive upside of all.With users in 180 countries and soaring revenues, it’s set to thrive on remote working long after the pandemic ends. No wonder it recently offered a stunning $600 million stock buy-back plan.The sky’s the limit for this emerging tech giant. And the earlier you get in, the greater your potential gain.Click Here, See It Free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Skyworks Solutions, Inc. (SWKS): Free Stock Analysis Report QUALCOMM Incorporated (QCOM): Free Stock Analysis Report Qorvo, Inc. (QRVO): Free Stock Analysis Report Lumentum Holdings Inc. (LITE): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research