Citi analyst Atif Malik has opened a "positive catalyst watch" on Qorvo following third party reports about positive growth in weekly sales of smartphones in China. While stating it is early to extrapolate the pickup in China smartphone demand, he believes China smartphone component inventory is at its lowest levels since going into correction in June of last year and notes that Qorvo has the highest China Android smartphone exposure among the semi names he covers. Malik has a Neutral rating and $94 price target on Qorvo shares.
Published first on TheFly
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