Corvo Sees Strong Move Amid High-Tech Competition

3 months ago

Nora Melinda

"I'm keeping eyes on Corvo. That's taker QVR O. And this is a stock that ended at its best day since April and its highest level in over a year. We did see shares up about 5.7%. This is after uh Apple essentially is saying that they want to really invest in their own homegrown chips. And so you are seeing Corvo and a competitor Skyworks Solutions actually merging as they're trying to seek out certain opportunities for themselves to really benefit in this space. This would have be a combination of about two $22 billion here in value for these two companies here to be combined."

Corvo (ticker QRVO) had its best day since April, with shares rising approximately 5.7%. The commentary links this performance to competitive dynamics in the tech sector following Apple's move to develop its own chips, which is prompting strategic mergers and valuations in the industry.

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