Qualcomm Finds Way To JPMorgan’s Analyst Focus List

JPMorgan analyst Samik Chatterjee added Qualcomm Inc (NASDAQ: QCOM) to the firm's Analyst Focus List.
Chatterjee cited easing supply and benefits of diversification "should lead to both earnings upside and rerating." 

• JPMorgan analyst Samik Chatterjee added Qualcomm Inc (NASDAQ:QCOM) to the firm's Analyst Focus List.
• Chatterjee cited easing supply and benefits of diversification "should lead to both earnings upside and rerating." 
• He keeps an Overweight rating on the shares with a $225 price target, implying a 20% upside.
• Qualcomm recently went through multiple updates.
• The chipmaker split its Snapdragon brand into a "standalone product brand with specific ties to the Qualcomm brand where appropriate."
• Noted client Apple Inc (NASDAQ:AAPL) shifted loyalties to Taiwan Semiconductor Manufacturing Co Ltd (NYSE:TSM) to manufacture 5G iPhone modems from 2023.
• The chipmaker lost its AI chip chief to a startup.
• Related Content: Analysts Bump Up Qualcomm Price Targets Post Analyst Day
• Price Action: QCOM shares traded higher by 2.26% at $188.03 on the last check Monday.