Qorvo (QRVO) plunged from $100 to below $70 after posting quarterly earnings. The stock entered an accumulation phase and then broke out last Friday. QRVO stock gained 14.43% to close at $84.21.
Starboard took an activist stake in Qorvo shares. It disclosed a massive 7.7% ownership in the supplier of radio frequency chips to both Apple (AAPL) and Samsung (SSNLF). QRVO stock may still struggle since Apple risks posting weak device sales in its next earnings report.
Like clockwork, when Intel (INTC) stock fell to bargain levels at below $20, buyout rumors surfaced. In addition, the rumor mentioned Tesla (TSLA) CEO Elon Musk. SemiAccurate reported that a firm might buy Intel. This “news” repeated the rumor from two months ago.
The stock markets speculate that Qualcomm (QCOM) and Broadcom (AVGO) would bid for Intel. Fundamentally, Intel is in trouble. Its Ultra Core CPU line-up is not appealing, since performance is similar to the 12th generation chips. The 13th-generation and 14th-generation top-end chips had quality issues, hurting the brand’s reputation for reliability and performance.
MicroStrategy (MSTR) rallied back near its $400 price resistance. The stock depends wholly on Bitcoin (BTC-USD) prices, which traded at $103,895. Investors may also benefit from BTC’s strength by holding platforms like Coinbase (COIN).
