Qorvo (QRVO) stock drops 8% as Apple-linked chip names slide ahead of U.S. jobs report

7 January 2026

New York, Jan 7, 2026, 13:45 EST — Regular session

Qorvo shares were down about 8% in afternoon trade after Tuesday’s close near $88
Skyworks also slid in heavy trading, dragging other radio-chip names
Traders are watching Friday’s U.S. payrolls report and Qorvo’s late-January results

Qorvo shares fell about 8% on Wednesday, underperforming a mixed U.S. market as investors trimmed exposure to smaller chipmakers. The stock was down $7.36 at $80.76, after touching a session low of $79.76.

The drop mattered because it hit a corner of semiconductors tied to phone demand just as broader indexes leaned on megacap tech again. “The economic news sort of fueled a little bit of profit taking,” Robert Pavlik, senior portfolio manager at Dakota Wealth, said of the day’s trading. Reuters

Fresh labor data added to the push-and-pull over rates. U.S. job openings fell more than expected in November, a government report showed, keeping attention on Friday’s payrolls figures for the next clue on growth and Federal Reserve policy. Reuters

Qorvo’s move tracked declines in other radio-frequency chipmakers, a group that sells components that handle wireless signals inside smartphones. Skyworks Solutions was down about 11%, while Qualcomm fell about 3%.

The slide reversed a short run higher. Qorvo ended Tuesday at $88.12, its third straight daily gain, according to MarketWatch data. MarketWatch

Merger headlines have also stayed in the background. A Skyworks prospectus filing dated Dec. 23 said the company planned to withdraw and refile its U.S. premerger notification paperwork by Jan. 7, a step that can reset regulatory review timing. SEC

Under the deal announced in October, Qorvo shareholders are slated to receive $32.50 in cash and 0.960 Skyworks shares per Qorvo share. Based on Skyworks’ price on Wednesday, that implied value was roughly $88.82, leaving Qorvo trading at about a 9% discount. Reuters

Beyond the deal, the next company catalyst is earnings. Zacks estimates Qorvo will report on Jan. 27, with investors likely to focus on any update to demand in mobile chips and margins after a volatile start to the year for semiconductors. Zacks

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