MarketMoodz
Barclays Sees Qorvo, Skyworks Benefiting From Apple’s Foldable iPhone
Barclays flags Qorvo (QRVO) and Skyworks Solutions (SWKS) as beneficiaries of Apple's foldable iPhone, issuing overweight ratings with price targets of $100 and $70, implying about 20% and 17% upside. The note ties the potential to stronger RF/power-management content and a broader upgrade cycle, according to CNBC's reporting.
Key Takeaways
- Barclays assigns overweight ratings to QRVO and SWKS with targets of $100 and $70, implying roughly 20.4% and 16.8% upside.
- Catalysts include the foldable iPhone ramp, the IP20 anniversary cycle, and a potential common modem platform.
- Analyst consensus is mixed: 20 of 23 Qorvo analysts hold; Skyworks analysts mostly hold.
- Rumors of a foldable iPhone and cheaper Apple devices add uncertainty to the setup.
People Involved
- Tom O'MalleyBarclays Analyst
Entities Involved
- Qorvo (QRVO)RF/power-management components supplier
- Skyworks Solutions (SWKS)RF/power-management and integrated frontend supplier
- Apple Inc. (AAPL)Apple, potential foldable iPhone driver
MarketMoodz Analysis
Investors get a direct way to play content and RF/power management if Apple pushes a foldable iPhone, with QRVO and SWKS positioned to capture higher RF content and efficiency gains. Barclays' targets translate into double-digit upside, and the equity risers over the past year for QRVO (roughly 43%) and SWKS (about 7%) provide some ballast, though the upside rests on a successful foldable ramp and Apple’s product cadence.
The note sits in a broader historical context where foldable devices have shifted chip demand toward RF, power, and modem-related components. If Apple pursues an internal modem platform or accelerates its hardware consolidation, margins could shift in favor of suppliers with higher content per device. Yet the setup carries macro demand risk, supply-chain volatility, and the possibility that rumors do not materialize, tempering the trajectory for QRVO and SWKS.
Source: Original Article