Why Qorvo Inc. (QRVO) Surged on Wednesday

We recently published an article titled Excellent Earnings Propelled Prices of These 10 Firms. In this article, we are going to take a look at where Qorvo Inc. (NASDAQ:QRVO) stands against the other stocks that soared on Wednesday.

The stock market finished Wednesday's trading on a lackluster note, with the three major indices finishing mixed, as investors digested news of the US economy’s contraction in the first quarter of the year that triggered fears of a possible recession.

Among all major indices, only the Dow Jones and S&P 500 ended in the green, up 0.35 percent and 0.15 percent, respectively. In contrast, the tech-heavy Nasdaq dipped by 0.09 percent.

Ten firms, on the other hand, managed to record strong gains, thanks to impressive earnings performance and optimistic outlooks for the rest of the year.

We have named 10 of the top-performing stocks on Wednesday and detailed the reasons behind their gains.

To come up with the list, we considered only the stocks with a $2-billion market capitalization and $5-million trading volume.

Qorvo Inc. (NASDAQ:QRVO)

Qorvo Inc. (NASDAQ:QRVO) jumped by 14.4 percent on Wednesday to close at $71.67 apiece after announcing an impressive earnings performance in the fourth quarter of fiscal year 2025.

In a statement, Qorvo Inc. (NASDAQ:QRVO) said net income in the fourth quarter expanded by 1,063 percent to $31.4 million from $2.7 million in the same period a year earlier, despite revenues dropping by 7.6 percent to $869.5 million from $941 million year-on-year.

“Looking across our business segments, our growth and margin targets are anchored in a multi-year strategy focused on winning content with our largest customer and building on our core RF and power expertise to drive diversification through CSG and HPA. We are on a path to continue to improve our business mix and our manufacturing footprint,” said Qorvo Inc. (NASDAQ:QRVO) President and CEO Bob Bruggeworth.

Looking ahead, Qorvo Inc. (NASDAQ:QRVO) expects revenues to settle at $775 million, plus or minus $25 million, in June 2025, with a non-GAAP gross margin between 42 and 44 percent.

Overall QRVO ranks 3rd on our list of the stocks that soared on Wednesday. While we acknowledge the potential of QRVO as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than QRVO but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

Disclosure: None. This article is originally published at Insider Monkey.