Qorvo Projects Better ‘Supply Environment’ This Year: CFO

Qorvo's semiconductor shortages moderated in fiscal Q1 ended Jan. 1, “and we expect the supply environment to continue to improve through this quarter and the calendar year,” said Chief Financial Officer Mark Murphy on an earnings call Wednesday. “We are still seeing some chipset shortages in Wi-Fi, which impacted that business.” Qorvo expects its mobile revenue in fiscal Q2 will be “flat sequentially and up around 5% year over year on flagship and mass tier phone launches and content gains and a more stable supply demand situation,” he said. The company doesn’t worry that the chip crunch will crimp 5G smartphone growth this year, said Eric Creviston, president-mobile products. “To the extent that there are chipset constraints in the modem side of the business, I would assume those suppliers are going to prioritize 5G,” he said. “So we doubt that’s going to be a major factor.”