Qorvo (QRVO) stock drops 8% as Apple-linked chip names slide ahead of U.S. jobs report
Qorvo shares dropped 8% to $80.76 Wednesday, trailing chip stocks as traders awaited U.S. payrolls data and Qorvo’s late-January earnings. Skyworks fell 11%, while Qualcomm slipped 3%. Qorvo traded at a 9% discount to its implied merger value with Skyworks. U.S. job openings data added pressure to the sector.