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Earnings Results: Qorvo stock rocked by weak holiday forecast due to semiconductor shortage

Qorvo Inc. stock fell more than 6% in after-hours trading Wednesday, following a holiday revenue forecast that came in light amid supply constraints in the semiconductor sector.

Qorvo QRVO Chief Financial Officer Mark Murphy cited “ongoing supply challenges and other factors impacting global smartphone demand” in guiding for a sequential revenue decline in the holiday quarter for the maker of radio-frequency chips and other components, but said executives expect the issue to ease before the next quarter.

Murphy…

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