Qorvo (QRVO) - Get Report, a manufacturer of smartphone chips enabling communication with wireless networks, will top Wall Street's earnings estimates for next year, according to JPMorgan who reiterated its "overweight" rating on the stock today.
"Qorvo remains on track to deliver double-digit revenue growth with a strong design win pipeline," JPMorgan analyst Bill Peterson wrote in a note to clients today. "Looking to 2H17 and into 2018, Qorvo should especially benefit from the next-generation [ Apple (AAPL) - Get Report ] iPhone from both an increased in RF dollar content gains and from higher unit sales."
Shares of Qorvo closed higher on Thursday by 1.81% to $69.08.
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This story is updated from 11:17 a.m. EDT.