Benzinga | Dec 13, 2021 10:16AM EST

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."

* 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.