Qualcomm Finds Way To JPMorgan's Analyst Focus List

JPMorgan analyst Samik Chatterjee added Qualcomm Inc 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 AAPL shifted loyalties to Taiwan Semiconductor Manufacturing Co Ltd 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.