Qorvo’s quarterly revenue falls by a third due to weak end-market demand and elevated channel inventories

What happened

Qorvo reported Q3 FY23 revenue of $743.3M, a sequential decline of 35.8% and a year-over-year drop of 33.3%, though slightly above guidance. The decline was driven by weak end-market demand and elevated channel inventories across its mobile, infrastructure, and defense segments. Bearish: This signals persistent soft demand and high inventory levels, pressuring spot prices and distributor pricing for Qorvo's RF and power components.

Impact and signal

Affected components and suppliers

Source and time

Source: Semiconductor Today · 2/8/2023 · View original source