Qorvo, Inc. (NASDAQ:QRVO) Conference Call Summary Company Overview - **Company**: Qorvo, Inc. - **Industry**: Semiconductor, specifically focusing on RF solutions and 5G technology Key Points and Arguments 1. Market Segments and Growth Outlook - **Advanced Cellular Segment**: Expected to drive growth in the high single digits due to the transition of Android OEMs to 5G technology [6] - **Connectivity and Sensing Segment**: Anticipated strong double-digit growth, addressing mobile, enterprise, and automotive connectivity markets [6] - **High-Performance Analog Segment**: Also expected to see double-digit growth driven by trends in electric vehicles, power management, and defense [7][8] 2. Current Market Challenges - **Macroeconomic Headwinds**: Global events such as COVID-19 and the war in Ukraine are negatively impacting demand, particularly in the Android ecosystem [11] - **Elevated Inventory Levels**: Both Qorvo and its customers are experiencing high inventory levels, which are expected to persist until macroeconomic conditions improve [11][12] 3. Financial Guidance and Performance - **Revenue Guidance**: Fiscal second half revenue is guided down approximately 10% quarter-over-quarter, with December expected to be the low point for the Android business [10] - **Gross Margin Target**: Long-term target remains at 50%, with current challenges primarily related to utilization rates [53][55] 4. Charge and Inventory Management - **$110 Million Charge**: Primarily due to demand fluctuations and inventory management, with components including an impairment of a prepaid deposit and liabilities related to silicon wafer agreements [15][17] - **Negotiations with Suppliers**: Ongoing discussions with foundry suppliers to manage capacity and demand fluctuations [20][21] 5. Competitive Landscape - **5G Transition**: Qorvo is well-positioned to benefit from the transition to 5G, particularly in the Android ecosystem, which is currently only about 40% penetrated [35][64] - **Design Activity**: Encouraging design activity despite current unit pressures, indicating future growth potential [33][38] 6. Strategic Changes and Organizational Structure - **New Operating Segments**: Introduction of a new segment structure to better align technologies and products with customer needs, aimed at accelerating sales cycles [44][46] - **Unified Sales Force**: A unified sales approach across segments to enhance customer engagement and operational efficiency [46] 7. Future Opportunities - **Emerging Technologies**: Focus on ultra-wideband and biosensor technologies, with potential applications beyond current markets [42][52] - **Government Initiatives**: Potential benefits from U.S. government programs like the Chips Act, which may provide opportunities for collaboration and funding [60] 8. Capital Allocation and Shareholder Returns - **Disciplined Capital Allocation**: Focus on maintaining a conservative balance sheet while investing in R&D and returning value to shareholders [58][61] 9. Long-term Market Trends - **Technology Upgrade Cycles**: Continued investment in technology leadership is expected to drive long-term growth, with a focus on improving throughput and energy efficiency [67] Additional Important Insights - **Consumer Behavior**: The transition to 5G is driven by consumer demand for better performance, which is expected to spur future upgrades in the smartphone market [34][36] - **Market Dynamics**: The competitive landscape remains challenging, but Qorvo's established relationships and technological capabilities position it well for future growth [37][38]

PART I — FINANCIAL INFORMATION [Item 1. Financial Statements (Unaudited)](index=4&type=section&id=Item%201.%20Financial%20Statements%20(Unaudited).) This section presents the unaudited condensed consolidated financial statements for the quarterly period ended July 2, 2022, including balance sheets, income, comprehensive income, equity, and cash flows, with accompanying notes [Condensed Consolidated Balance Sheets](index=4&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) The balance sheet as of July 2, 2022, shows total assets decreased to $7.33 billion, driven by lower cash and higher inventories, while total liabilities slightly rose and equity decreased to $4.30 billion Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | July 2, 2022 | April 2, 2022 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $858,791 | $972,592 | | Inventories | $847,378 | $755,748 | | Total current assets | $2,372,489 | $2,449,865 | | Total assets | $7,330,521 | $7,509,072 | | **Liabilities & Equity** | | | | Total current liabilities | $718,450 | $675,127 | | Long-term debt | $2,047,183 | $2,047,098 | | Total liabilities | $3,029,916 | $2,955,854 | | Total stockholders' equity | $4,300,605 | $4,553,218 | [Condensed Consolidated Statements of Income](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Income) For the three months ended July 2, 2022, revenue decreased 6.8% to $1.035 billion, gross profit fell 31.3%, operating income declined 65.7%, and net income dropped to $68.9 million, with diluted EPS at $0.65 Consolidated Statements of Income (in thousands, except per share data) | Metric | Three Months Ended July 2, 2022 | Three Months Ended July 3, 2021 | | :--- | :--- | :--- | | Revenue | $1,035,358 | $1,110,351 | | Gross Profit | $375,250 | $546,183 | | Operating Income | $101,859 | $297,102 | | Net Income | $68,884 | $285,626 | | Diluted EPS | $0.65 | $2.51 | [Condensed Consolidated Statements of Comprehensive Income](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Comprehensive%20Income) Total comprehensive income for the quarter was $45.7 million, a significant decrease from $288.9 million year-over-year, primarily due to lower net income and a negative foreign currency translation adjustment Consolidated Statements of Comprehensive Income (in thousands) | Item | Three Months Ended July 2, 2022 | Three Months Ended July 3, 2021 | | :--- | :--- | :--- | | Net income | $68,884 | $285,626 | | Other comprehensive (loss) income | ($23,206) | $3,269 | | **Total comprehensive income** | **$45,678** | **$288,895** | [Condensed Consolidated Statements of Stockholders' Equity](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Stockholders%27%20Equity) Stockholders' equity decreased from $4.55 billion to $4.30 billion, mainly due to $350.0 million in common stock repurchases and an other comprehensive loss, partially offset by net income - Key changes in stockholders' equity for the three months ended July 2, 2022 include: net income of **$68.9 million**, other comprehensive loss of **$23.2 million**, and common stock repurchases of **$350.0 million**[19](index=19&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash from operations was $273.0 million, down year-over-year, while net cash used in investing activities was lower, and net cash used in financing activities increased due to higher stock repurchases, resulting in a net cash decrease of $113.8 million Consolidated Statements of Cash Flows Highlights (in thousands) | Cash Flow Activity | Three Months Ended July 2, 2022 | Three Months Ended July 3, 2021 | | :--- | :--- | :--- | | Net cash provided by operating activities | $273,006 | $341,570 | | Net cash used in investing activities | ($38,894) | ($227,962) | | Net cash used in financing activities | ($345,943) | ($311,379) | | **Net decrease in cash** | **($113,832)** | **($197,779)** | [Notes to Condensed Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) The notes detail key accounting policies, a significant increase in inventories, business acquisitions, a $110 million charge for a capacity agreement due to weakened demand, revenue by geography, and a subsequent reorganization of operating segments - Due to weakened demand for 5G handsets in China and EMEA, the company failed to meet minimum purchase commitments with a foundry supplier, resulting in a total charge of **$110.0 million** to cost of goods sold in Q1 FY2023, comprising a **$13.0 million** deposit impairment, **$11.0 million** in excess inventory reserves, and an **$86.0 million** estimated shortfall for future commitments[54](index=54&type=chunk)[55](index=55&type=chunk)[80](index=80&type=chunk) Revenue by Geography (in thousands) | Geography | Q1 FY2023 Revenue | Q1 FY2022 Revenue | | :--- | :--- | :--- | | United States | $396,031 | $319,181 | | China | $283,476 | $535,937 | | Other Asia | $192,328 | $109,278 | | Taiwan | $91,172 | $85,214 | | Europe | $72,351 | $60,741 | | **Total revenue** | **$1,035,358** | **$1,110,351** | - In the second quarter of fiscal 2023, the company reorganized its operating structure from two segments (MP and IDP) into three new segments: **Connectivity and Sensors Group (CSG)**, **High Performance Analog (HPA)**, and **Advanced Cellular Group (ACG)**, with financial reporting reflecting this new structure starting with the quarter ending October 1, 2022[65](index=65&type=chunk)[71](index=71&type=chunk)[73](index=73&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=18&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations.) Management attributes the 6.8% revenue decline to weak 5G handset demand in China and EMEA, with gross margin falling sharply due to a $110.0 million charge, leading to a 65.7% decrease in operating income, while $350.0 million of common stock was repurchased Consolidated Results of Operations (in thousands) | Metric | Q1 FY2023 | Q1 FY2022 | % Change | | :--- | :--- | :--- | :--- | | Revenue | $1,035,358 | $1,110,351 | (6.8)% | | Gross Profit | $375,250 | $546,183 | (31.3)% | | Operating Income | $101,859 | $297,102 | (65.7)% | Mobile Products (MP) Segment Performance (in thousands) | Metric | Q1 FY2023 | Q1 FY2022 | % Change | | :--- | :--- | :--- | :--- | | Revenue | $732,918 | $836,138 | (12.3)% | | Operating Income | $208,087 | $299,690 | (30.6)% | Infrastructure and Defense Products (IDP) Segment Performance (in thousands) | Metric | Q1 FY2023 | Q1 FY2022 | % Change | | :--- | :--- | :--- | :--- | | Revenue | $302,440 | $274,213 | 10.3% | | Operating Income | $76,278 | $67,339 | 13.3% | - Liquidity remains strong with **$858.8 million** in cash and cash equivalents, with the company's primary source of liquidity being cash from operations, which was **$273.0 million** for the quarter, and **$350.0 million** was used to repurchase **3.3 million shares** of common stock during the quarter[98](index=98&type=chunk)[100](index=100&type=chunk)[101](index=101&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=27&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk.) The company reports no material changes to its market risk exposures during the first quarter of fiscal 2023, referring to its Annual Report on Form 10-K for further discussion - There were no material changes to the company's market risk exposures during the first quarter of fiscal 2023[121](index=121&type=chunk) [Controls and Procedures](index=27&type=section&id=Item%204.%20Controls%20and%20Procedures.) Management, including the CEO and Interim CFO, concluded that the company's disclosure controls and procedures were effective as of July 2, 2022, with no material changes to internal control over financial reporting during the quarter - Management, including the CEO and Interim CFO, concluded that the company's disclosure controls and procedures were **effective** as of the end of the reporting period[122](index=122&type=chunk) - No changes occurred during the quarter that materially affected, or are reasonably likely to materially affect, the company's internal control over financial reporting[123](index=123&type=chunk) PART II — OTHER INFORMATION [Risk Factors](index=28&type=section&id=Item%201A.%20Risk%20Factors.) This section highlights a material inventory management risk, where manufacturing based on non-binding customer forecasts can lead to excess inventory and costs, exemplified by a $110 million charge due to weakened 5G handset demand - The company is subject to **significant inventory risks** because it purchases materials and builds products based on customer forecasts that are not binding commitments, which can lead to high inventory carrying costs and obsolescence if demand is lower than expected[126](index=126&type=chunk) - As a direct result of this risk, unexpectedly weakened demand for 5G handsets in China and EMEA caused the company to not meet minimum purchase commitments with a foundry supplier, leading to a total charge of **$110.0 million** in the first quarter of fiscal 2023[128](index=128&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=29&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds.) During the quarter, the company repurchased 3.295 million shares of common stock for approximately $350 million at an average price of $106.23 per share, with $511.7 million remaining for future repurchases Issuer Purchases of Equity Securities (in thousands, except per share data) | Period | Total Shares Purchased | Average Price Paid per Share | Dollar Value Remaining in Program | | :--- | :--- | :--- | :--- | | April 3 - April 30, 2022 | 340 | $115.93 | $822.3 million | | May 1 - May 28, 2022 | 1,320 | $105.08 | $683.7 million | | May 29 - July 2, 2022 | 1,635 | $105.15 | $511.7 million | | **Total** | **3,295** | **$106.23** | **$511.7 million** | - The repurchases were made under a **$2.0 billion** share repurchase program authorized by the Board of Directors on May 5, 2021[130](index=130&type=chunk) [Exhibits](index=30&type=section&id=Item%206.%20Exhibits.) This section lists the exhibits filed with the Quarterly Report on Form 10-Q, including the LIBOR Transition Amendment, a list of subsidiary guarantors, certifications by the CEO and Interim CFO, and iXBRL formatted financial statements - The exhibits filed with this report include certifications from the CEO and Interim CFO pursuant to the Sarbanes-Oxley Act of 2002 and financial data formatted in iXBRL[134](index=134&type=chunk)

Qorvo, Inc. (NASDAQ:QRVO) Q1 2023 Earnings Conference Call August 3, 2022 5:00 PM ET Company Participants Douglas DeLieto – Vice President-Investor Relations Bob Bruggeworth – President and Chief Executive Officer Grant Brown – Interim Chief Financial Officer Eric Creviston – Head-Connectivity & Sensors Philip Chesley – Head-High Performance Analog Conference Call Participants Matt Ramsay – Cowen Vivek Arya – Bank of America Gary Mobley – Wells Fargo Blayne Curtis – Barclays Toshiya Hari – Goldman Sachs Amb ...

Qorvo, Inc. Conference Call Summary Company Overview - **Company**: Qorvo, Inc. (NASDAQ: QRVO) - **Participants**: Robert Bruggeworth (CEO), Grant Brown (Interim CFO) - **Conference**: J.P. Morgan's 50th Annual Global Technology, Media and Communications Conference on May 23, 2022 Key Points Industry and Market Dynamics - **5G Smartphone Market**: Initial forecast of 700-750 million 5G phones in 2022 revised down to 650-675 million due to declining consumer sentiment and lockdowns in China [5][6] - **Impact of Geopolitical Events**: The Russia-Ukraine conflict has affected export markets for China-based handset customers and Samsung in Eastern Europe [6] - **Temporary Market Conditions**: Current challenges viewed as temporary, with long-term growth drivers for 5G and WiFi technologies expected to remain strong [6][10] Business Performance - **Quarterly Growth**: Qorvo experienced growth in both Mobile and IDP (Infrastructure and Defense Products) businesses in the March quarter compared to the December quarter [4] - **Customer Diversification**: Focus on building a diversified customer base, including significant growth with Samsung and new opportunities with Honor, Vivo, and Xiaomi [8][10] Financial Outlook - **Revenue Impact**: Approximately $250 million in revenue expected to be affected due to reduced 5G smartphone shipments, translating to a loss of 50-75 million units [13] - **Mobile Business Growth**: Anticipated quarter-on-quarter growth in Mobile for the remainder of the year, despite inventory-related delays [15][16] - **Gross Margin Expectations**: Gross margins expected to decline to around 50% due to lower margin mix and volumes, with a path back to 52% gross margins anticipated as volumes rebound [57][58] Strategic Initiatives - **Power Management and Acquisitions**: Growth in the Power business through acquisitions like Active-Semi and United Silicon Carbide, focusing on programmable power management and efficiency [7][46][49] - **Emerging Technologies**: Engagement in Ultra-wideband and sensor technologies, with applications in gaming phones and electric vehicles [29][30] Competitive Landscape - **Market Positioning**: Qorvo maintains a strong position against competitors like Qualcomm, with no loss of market share in China despite increased competition from local suppliers [55][56] - **Future Growth Areas**: Potential growth in data centers and silicon photonics, although current focus remains on power management rather than optical technologies [69][70] Long-term Growth Projections - **IDP Business Growth**: IDP expected to grow at double-digit rates, driven by 5G networking, aerospace, and defense sectors [41][60] - **New Product Segments**: Approximately 30% of revenue from non-smartphone areas growing in double digits, indicating strong potential for future growth [43] Additional Insights - **Consumer Behavior in China**: Uncertainty regarding consumer spending post-lockdowns, with potential shifts in priorities affecting smartphone purchases [20] - **Inventory Management**: Challenges in managing inventory levels across customers, impacting revenue recognition and gross margins [32][63] This summary encapsulates the key insights and strategic directions discussed during the conference call, highlighting Qorvo's current market position, challenges, and future growth opportunities.

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended April 2, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____to _____ Commission File Number 001-36801 Qorvo, Inc. (Exact name of registrant as specified in its charter) Delaware 46-5288992 (State or other jurisdicti ...

Qorvo, Inc. (NASDAQ:QRVO) Q4 2022 Earnings Conference Call May 4, 2022 5:00 PM ET Company Participants Douglas DeLieto - Vice President, Investor Relations Bob Bruggeworth - President & Chief Executive Officer Grant Brown - Interim Chief Financial Officer Eric Creviston - President, Mobile Products Group Philip Chesley - President, Infrastructure & Defense Products Group Conference Call Participants Harlan Sur - JPMorgan Toshiya Hari - Goldman Sachs Blayne Curtis - Barclays Joe Moore - Morgan Stanley Edwar ...

Qorvo Inc. (NASDAQ:QRVO) Conference Call Summary Industry Overview - The conference call focused on the semiconductor industry, specifically the growth drivers for Qorvo Inc. in the context of 5G, Wi-Fi technologies, and power management solutions [1][2][3]. Key Points and Arguments 1. Growth Drivers - Qorvo is optimistic about long-term growth drivers including 5G, Wi-Fi 6, 6E, and upcoming Wi-Fi 7, as well as programmable power management and ultra-wideband technologies [3][4]. - The company anticipates production of 700 million to 750 million 5G phones in the current year, representing about 50% of the smartphone market, with an increase in content per phone of $5 to $7 due to 5G integration [4][5]. 2. Wi-Fi Technology - Transition from Wi-Fi 6 to 6E is expected to be a multi-year trend, with sampling of Wi-Fi 7 already underway. However, silicon constraints have limited growth in this area [5][6]. 3. Ultra-Wideband and Infrastructure - Qorvo is expanding its ultra-wideband business, with applications in handsets, automotive, and IoT. The infrastructure market is also expected to grow, particularly in regions like the U.S., Canada, and Europe, despite slower growth in China [6][7]. 4. Defense Sector - The defense business has historically grown in double digits, supported by strong long-term contracts and technologies in GaAs and GaN [8]. 5. Market Dynamics in China - Despite concerns about the Chinese market, Qorvo remains optimistic, noting that their largest customer has performed well in China. The company is also looking forward to potential growth from the Honor brand, which is seen as a reincarnation of Huawei [18][27]. 6. Competitive Landscape - Qorvo is benefiting from competitors like Broadcom pulling back from certain markets, allowing Qorvo to capture additional market share, particularly in high-bandwidth RF and Wi-Fi products [25][26]. 7. Capital Expenditure and Pricing - Qorvo has successfully reduced capital intensity over the past five years, with expectations of maintaining mid-single digits CapEx as a percentage of sales. Pricing remains stable, with the company passing along costs to customers [48][49][51]. 8. Cash Flow Management - The company has focused on reducing capital intensity and improving profit quality, leading to an increase in free cash flow, which is expected to grow faster than revenue [59]. 9. Supply Chain Constraints - Qorvo has faced supply chain challenges, particularly in silicon availability, but feels confident about its internal capacity expansions and overall market position [63][64]. 10. Future Outlook - The company expects continued growth in its infrastructure, defense, Wi-Fi, and power management businesses, with a strong focus on automotive applications as well [39][41][42]. Additional Important Insights - The integration of United Silicon Carbide is anticipated to enhance Qorvo's power management capabilities, particularly in automotive and infrastructure sectors [44]. - The company is optimistic about the ramp-up of production in the second half of the year, driven by share gains from major customers like Samsung and the introduction of new products [54]. This summary encapsulates the key insights and strategic outlook for Qorvo Inc. as discussed during the conference call, highlighting the company's growth potential and market dynamics.

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended January 1, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____to _____ Commission File Number 001-36801 Qorvo, Inc. (Exact name of registrant as specified in its charter) Delaware 46-5288992 (State or other ...

Qorvo, Inc. (NASDAQ:QRVO) Q3 2022 Earnings Conference Call February 2, 2022 5:00 PM ET Company Participants Douglas DeLieto - Vice President, Investor Relations Bob Bruggeworth - President and Chief Executive Officer Mark Murphy - Chief Financial Officer Philip Chesley - President, Infrastructure and Defense Products Group Eric Creviston - President, Mobile Products Group Conference Call Participants Toshiya Hari - Goldman Sachs Karl Ackerman - Cowen Vivek Arya - Bank of America Blayne Curtis - Barclays Gar ...

Qorvo, Inc. (NASDAQ:QRVO) Barclays 2021 Global TMT Conference Summary Industry Overview - Qorvo operates in the semiconductor industry, focusing on radio frequency (RF) solutions for various applications including smartphones, IoT, automotive, and defense [3][4][5]. Key Points and Arguments Market Position and Growth - Qorvo is a global leader in 5G technology, projecting RF content growth across smartphone OEMs for multiple years [3]. - The company is expanding its market exposure beyond smartphones to include IoT applications and ultra-low latency applications such as automotive and AR/VR [4]. - Qorvo's infrastructure segment is benefiting from early 5G deployments, with a strong portfolio of high-performance GNPAs and small signal devices [5]. Capital Allocation and Investments - Qorvo has maintained a balanced and disciplined approach to capital allocation, investing in power capabilities, advanced switches, sensors, and Ultra Wideband technology [6]. - The company expects these investments to contribute materially over time, with a focus on next-generation devices launching in 2022 [6]. Supply Chain and Market Dynamics - Qorvo anticipates supply and demand imbalances to moderate through the March quarter, with improvements expected in 2022 [6]. - The company is addressing supply chain challenges, particularly in silicon and power management components, while seeing improvements in capacity [22][23]. 5G Market Outlook - The total addressable market (TAM) for mobile RF is expected to grow significantly, with projections of over 500 million 5G units in 2022 and continued growth beyond that [25]. - Qorvo sees opportunities in the Android ecosystem as it adopts 5G technology, with significant growth expected from Samsung and Honor [25][27]. Ultra Wideband (UWB) Technology - Qorvo identifies UWB as a significant growth opportunity, with a projected TAM exceeding $1 billion by 2024 [49]. - The technology is already integrated into the iOS ecosystem and is beginning to roll out in Android devices, with applications in IoT and automotive sectors [50]. IDP Segment Growth - The Infrastructure and Defense (IDP) segment is expected to grow double digits, driven by demand for gallium nitride (GaN) modules and WiFi technology [36][38]. - Qorvo's strategy includes expanding its low-power wireless business and enhancing power management solutions through acquisitions [37][38]. Acquisitions and Future Strategy - Qorvo has made $1.6 billion in acquisitions while also repurchasing $1.6 billion in stock, maintaining a balanced capital allocation strategy [40]. - The company is focused on ensuring that acquisitions meet or exceed expectations, with several expected to contribute significantly to revenue in the coming years [41][44]. Additional Important Insights - Qorvo emphasizes the importance of long-term agreements with customers and suppliers to mitigate risks and enhance relationships [19][20]. - The company is confident in its market position, asserting that it is not losing market share despite competition from companies like Qualcomm [16][17]. - Qorvo's focus on improving filter performance and integrating advanced technologies positions it well for future growth in complex mobile applications [10][33].