After sliding yesterday on a report by the tech news website The Information that Broadcom (NASDAQ: AVGO) could lose Alphabet's(NASDAQ: GOOG) (NASDAQ: GOOGL) Google as a customer for its AI chips, the company's shares were bouncing back today as multiple sources pushed back on that idea. As a result, Broadcom stock finished Friday up 2.6%, essentially recouping all of its losses from yesterday. Several Wall Street analysts questioned the notion that Google would ditch Broadcom as its tensor processing unit supplier.
One smaller manufacturer that underperformed in recent years is Qorvo (NASDAQ: QRVO). Qorvo is the result of a 2015 "merger of equals" between RF Micro Devices and TriQuint Semiconductor. The deal created what was hoped would be a new powerhouse in manufacturing of radio frequency (mobile connectivity) chips and related analog chips.