• JPMorgan analyst Samik Chatterjee reiterated an Overweight rating on Qualcomm Inc (NASDAQ: QCOM) with a $225 price target, ahead of the company's fiscal Q1 results. The price target implies an upside of 28%.

  • The analyst sees a favorable setup saying Apple Inc's (NASDAQ: AAPL) print points to solid demand for Qualcomm's largest customer.

  • The combination of supply chain easing, share gains with android customers, favorable pricing trends, as well as growth drivers from non-smartphone end-markets will enable Qualcomm to deliver above-seasonal and better than expected revenue in fiscal Q2.

  • He believes the shares are positioned as a top pick "with earnings upside and inexpensive valuation."

  • Price Action: QCOM shares traded lower by 0.18% at $175.45 in the premarket session on the last check Tuesday.

Latest Ratings for QCOM

Jan 2022

Keybanc

Maintains

Overweight

Dec 2021

Morgan Stanley

Maintains

Overweight

Nov 2021

Citigroup

Maintains

Neutral

View More Analyst Ratings for QCOM
View the Latest Analyst Ratings

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