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Skyworks rose 11%, Qorvo rose 7%, and Qualcomm rose 4%, with smartphone chip stocks bucking the trend to rise.
Skyworks Solutions (SWKS) surged 11%, Qorvo (QRVO) rose 7%, and Qualcomm (QCOM) climbed 4%, even as major tech stocks broadly declined. This rally was primarily driven by factors related to mobile radio frequency (RF) and decoupled from the performance of artificial intelligence (AI) chip stocks. The gains in Skyworks and Qorvo were also fueled by their pending merger, a $2 billion share repurchase program, and an anticipated $500 million in synergistic effects.
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Disclaimer: This content reflects the author's personal views only and does not constitute investment advice.
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