I’m sure some Qorvo (QRVO)
shareholders will take exception with this, but more and more this
company is reminding me of that kid we all know from high school who was
uncommonly talented but somehow just never managed to put it together.
Management certainly bears some responsibility (particularly for the
ongoing challenges in hitting margin targets), but other issues outside
of their control like weak iPhone unit sales have undermined some of the
positive drivers.
Qorvo shares look undervalued by
most metrics I track, but I think it is fair to ask if revenue and
margin leverage expectations are still too high, particularly as
high-end handsets don’t seem to offer the growth they once did. There
are still credible drivers in markets like IoT, wireless infrastructure,
and even handsets, but I’d like to see at least another quarter before
stepping up and buying these beaten-down shares.
Read the full article:
Between Weak iPhones And Ongoing Margin Challenges, Qorvo Can't Catch A Break
No comments:
Post a Comment