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Apple suppliers Skyworks, Qorvo get upgrades on 5G prospects

|About: Skyworks Solutions, Inc. (SWKS)|By: , SA News Editor

Mizuho Securities analyst Vijay Rakesh raises Skyworks Solutions (NASDAQ:SWKS) and Qorvo (NASDAQ:QRVO) to Buy from Neutral, as he sees "meaningful upside" for the companies due to tailwinds for 5G growth.

Skyworks gains 2.4% and Qorvo jumps 3.6% in premarket trading.

Lifts Skyworks price target to $132 from $90 and Qorvo's to $125 from $80.

The two suppliers to Apple "should see a rebound in growth this year and next as "as 5G requires an incremental 50%-60% increase in the RF (radio frequency tech) content of handsets."

Quant rating is Very Bullish for Qorvo and Neutral for Skyworks.

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