Slowing Mobile Phone Sales Take A Bite Out Of Apple Supplier Qorvo’s Guidance [Video]

Qorvo (QRVO) shares slumped Thursday after the maker of radio frequency chips and a key supplier for Apple (AAPL) provided weaker-than-expected current-quarter guidance in response to declining mobile phone demand. 

Qorvo said Wednesday that it anticipates its fiscal 2025 first-quarter adjusted earnings per share (EPS) will fall in a range of 60 cents to 80 cents, and revenue of about $850 million, plus or minus $25 million. Both were below estimates. 

CFO Grant Brown explained that, right now, “flagship smartphone ramps and large defense programs are down seasonally,” and added that Qorvo sees just “modest revenue growth and margin improvement” for the full year.

Softness in the company’s sales may signal concerns about Apple, although the major customer of Qorvo wasn’t mentioned in its most recent earnings release. According to one report, nearly half of Qorvo’s revenue comes from the iPhone maker. Apple reports its quarterly earningsafter the …