Apple Supplier Qorvo’s Stock Jumps Over 10% In Premarket, Here’s Why

• Based on Monday’s closing price, Qorvo has a market capitalization of $8.53 billion compared to Skyworks’ $11.3 billion.
• Apple accounted for 63% of Skyworks’ revenue and 41% of Qorvo’s. 
• Last week, Mizuho analyst Vijay Rakesh downgraded shares of Skyworks and Qorvo to ‘Underweight’ from ‘Neutral.’

Qorvo, Inc. (QRVO) shares climbed sharply in Tuesday’s early premarket session, reacting to a report that suggested a takeover interest from peer Skyworks Solutions, Inc. (SWKS).

While Qorvo stock climbed 10.24% in premarket, Skyworks stock fell 1.6%.

The Qorvo Deal Rumor

An Information report, citing people familiar with the matter, stated that Skyworks held talks in recent months to buy Qorvo. Both companies have recently warned that sales to their biggest customer — Apple — have weakened. Other rivals were winning business, it added.

It wasn’t yet clear whether the struggling Apple suppliers had clinched an agreement.

Based on Monday’s closing price, Qorvo has a market capitalization of $8.53 billion compared to Skyworks’ $11.3 billion.

Skyworks and Qorvo are manufacturers of high-performance analog and mixed-signal semiconductors. According to Koyfin's transcripts of the latest earnings calls for these companies, Apple accounted for 63% of Skyworks’ revenue and 41% of Qorvo’s. Qorvo’s primary end markets included automotive, consumer, defense & aerospace, industrial & enterprise, infrastructure, and mobile.

What Retail Feels About M&A Rumor

On Stocktwits, retail sentiment toward Qorvo stock improved to ‘bullish’ by early Tuesday, from ‘neutral’ a day ago. The message volume also perked up to ‘high’ levels. Meanwhile, sentiment toward the Skyworks stock remained ‘neutral’ but the message volume declined to ‘low’ levels.

Last week, Mizuho analyst Vijay Rakesh downgraded shares of Skyworks and Qorvo to ‘Underweight’ from ‘Neutral.’

Mizuho’s Rakesh attributed his downbeat opinion to a tougher macro backdrop and limited stock-moving catalysts for radio-frequency and handsets. The analyst expects 2026 iPhone unit shipments to decline 7% year over year (YoY) following a strong 2025 performance. He also expects the new foldable iPhone with high selling prices to delay upgrades, impacting both Skyworks and Qorvo.

More clarity on the fundamental outlook for these companies could emerge when Apple reports quarterly results on Oct. 30. While Qorvo is scheduled to announce its September quarter results after the market closes on Nov. 3, Skyworks is due to report a day later.

For the year-to-date period, QRVO stock has gained about 32%, while SWKS shares have lost about 12%.

For updates and corrections, email newsroom[at]stocktwits[dot]com.

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