This Growth Stock Might Be Ready to Go Parabolic, and It Is Incredibly Cheap Right Now

The demand for AI-enabled smartphones is on the rise, which could benefit chip stock Qorvo (QRVO). While the stock has seen flat performance in 2024, recent momentum suggests potential for growth. Qorvo’s strong revenue gains are attributed to increased sales to major mobile customers like Apple and Samsung. The company’s guidance for the current quarter is promising, with expectations of solid revenue growth. Analysts predict modest revenue increase for the full fiscal year, but Qorvo’s position in the AI smartphone market could lead to stronger growth. With AI-enabled smartphones expected to dominate the market, Qorvo stands to benefit from supplying chips for these devices. The stock is currently trading at a low valuation compared to the tech sector average, making it an attractive investment opportunity. Overall, Qorvo’s potential in the AI smartphone market could exceed market expectations, making it a stock worth considering for investors.