Skyworks vs. Qorvo: Two RF Chip Giants Fighting for the Same 5G Dollar

1 hour ago 1

William Temple

Sat, March 14, 2026 astatine 2:36 PM CDT 4 min read

Skyworks Solutions (SWKS) posted $1.035B successful Q1 FY26 gross beating estimates for a 4th consecutive 4th with 41% non-GAAP gross margin, portion Qorvo (QRVO) reported $1.058B gross with industry-leading 49.7% non-GAAP gross borderline successful Q2 FY26, positioning some arsenic targets for a planned $22B merger expected to adjacent successful aboriginal 2027. Both companies are diversifying beyond smartphones, with Skyworks winning Wi-Fi 7 and AI server powerfulness proviso plan wins and Qorvo targeting 50%+ margins portion deliberately shrinking lower-margin Android business.
Skyworks and Qorvo announced a merger that would make a large RF and analog semiconductor company, with execution hazard hinging connected regulatory approval, shareholder lawsuits, and whether Qorvo’s defense/aerospace conception margins prolong maturation done the deal’s aboriginal 2027 closing.
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Skyworks Solutions (NASDAQ:SWKS) and Qorvo (NASDAQ:QRVO) conscionable reported net arsenic nonstop RF spot competitors, but present is the twist: they announced a merger that would make a astir $22 cardinal combined RF and analog semiconductor company, expected to adjacent successful aboriginal 2027. These whitethorn beryllium the past meaningful net to comparison arsenic abstracted businesses.

Skyworks posted Q1 FY26 gross of $1.035 billion, beating estimates, with CEO Phil Brace noting "We delivered results supra our expectations for the 4th consecutive quarter, with outperformance crossed revenue, gross margin, and non-GAAP earnings." Four consecutive beats is not luck. That is simply a absorption squad that has reset expectations conservatively and past executed.

The maturation beyond mobile is real. Skyworks called retired Wi-Fi 7 plan wins, expanded automotive connectivity programs, and next-gen isolation solutions for AI server powerfulness supplies. Broad Markets is inactive smaller than Mobile, but it diversifies the communicative distant from Apple dependency.

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Qorvo's astir caller reported 4th showed ACG gross of $777 million, up 36% sequentially, with non-GAAP gross borderline of 49.7%. That borderline illustration is genuinely awesome for a mobile-heavy spot supplier. CEO Bob Bruggeworth pointed to defence and aerospace alongside wearable powerfulness absorption ICs arsenic maturation contributors beyond smartphones.

Metric

Skyworks (Q1 FY26)

Qorvo (Q2 FY26)

Revenue	$1.035B	$1.058B
Non-GAAP Gross Margin	~41%	49.7%
Dividend Yield	5.1%	None
Market Cap	~$8.2B	~$7.2B

Skyworks is gathering toward a satellite wherever RF matters beyond the smartphone. Wi-Fi 7 modules, LoRaWAN front-end chips for IoT, and AI server powerfulness isolation correspond sticky, design-win-driven gross that compounds quietly. The hazard is that Mobile inactive dominates, and Q2 FY26 guidance points to a astir 20% sequential Mobile gross diminution owed to seasonality.

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