|Day Low/High||134.20 / 136.25|
|52 Wk Low/High||67.54 / 140.69|
If you thought last week was busy, hang onto your hats.
TSMC's soft outlook was blamed in large part on high-end smartphone pressures.
Latest salvo in China trade war damages tech while higher rates and oil undercut consumer goods and housing.
Though many tech names still carry high multiples, there are now quite a few with reasonable valuations.
These names are showing bullish and bearish reversal patterns.
We did have volatility for most of January, but it was all in one direction.
Dow, S&P 500 and Nasdaq all drop slightly.
Unless we are living through a bear trap and prices reverse to the upside and close back above $73, I would anticipate that QRVO works lower in the weeks ahead.
Qorvo rallied strongly Monday and cast its vote with the bulls.
It may seem daunting, but there will likely be opportunities to scoop up well-positioned companies.
The charts don't look any better for Qorvo than they did a month ago.
If MU rises, it would lift all boats.
The iPhone 8's reported inclusion of several new technologies is expected to yield changes in Apple's supplier mix.
Though it's harder to find tech value plays now, they still exist.
Leaders aren't leading and semiconductors aren't conducting.
We know that we are in the era when index managers are ascendant.
Demand for Samsung's new flagship looks poised to beat cautious initial estimates. But Apple is buffered by strong loyalty rates and a pending iPhone 8 launch.
Qorvo will benefit from higher unit sales of the Apple iPhone 8, JPMorgan analyst Bill Peterson noted.
Jim Cramer says it's challenging to understand what's really going on at Cirrus Logic and Qorvo, but there are two other names that are easy to understand.
The "honeymoon is over" reporting is building a huge wall of worry.