Qorvo has already paid a big price to stay dialed into the iPhone. The worry for investors is how long that bill will run.

The company has been plagued with production yield issues on some of its latest products—radio-frequency chips used in smartphones to filter interference from different spectra. These are key components in today’s smartphones, and the market is effectively controlled by Qorvo, Skyworks and Broadcom (once known as Avago).

That...