Chip Manufacturers Are Expanding, but 1 Top Chip Stock Is Selling Fabs -- Is It a Top Buy for 2024?
The semiconductor industry is only just beginning to come out of a widespread slump -- primarily from an overhang of PC and smartphone chip supplies following a consumer spending boom early in the pandemic, as well as lower enterprise computer sales in 2022.
Nevertheless, the industry has been prepping for an explosion in chip demand. According to industry research from SEMI.org, equipment spending for new wafer fabs (facilities that manufacture silicon wafers, which get cut into chips) will hit new records in the next few years through 2026.
But one company is moving in a different direction: Qorvo (NASDAQ: QRVO). It just announced it's selling its chip manufacturing facilities in China as it looks to get itself in better financial shape in the years to come. With Qorvo shaking things up, is it now a buy for 2024?
Source Fool.com
Qorvo Inc. Stock
We see a rather positive sentiment for Qorvo Inc. with 14 Buy predictions and 2 Sell predictions.
As a result the target price of 112 € shows a positive potential of 25.63% compared to the current price of 89.15 € for Qorvo Inc..
