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Fly News Breaks for August 5, 2019
AAPL, QRVO
Aug 5, 2019 | 09:17 EDT
DA Davidson analyst Thomas Diffely raised his price target on Qorvo (QRVO) to $74 after its Q1 earnings beat and above-consensus guidance for Q2, saying the stronger than expected mobile demand ahead of a seasonal ramp at Apple (AAPL) has offset the initial Huawei Entity List impact. The analyst notes that the confirmation of the company being able to sell some components to Huawei, along with additional 5G upgrade upside, should support the stock, but keeps his Neutral rating.