JPMorgan analyst Samik Chatterjee is "increasingly positive" on Qualcomm (QCOM) shares heading into its fiscal Q1 earnings announcement. The recent strong results and guidance from Skyworks (SWKS) and Qorvo (QRVO) bear proof to the "robust" pipeline of 5G smartphone launches planned as well as to the content opportunity in 5G smartphones, Chatterjee tells investors in a pre-earnings research note. With Qualcomm shares trading at 17 times price-to-earnings pro forma fiscal 2019 earnings adjusted to include the Apple (AAPL) settlement, the current valuation is ascribing almost zero value to the 5G opportunity for Qualcomm outside of Apple, contends the analyst. He keeps an Overweight rating on Qualcomm with a $108 price target.

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Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.  1... To see the rest of the story go to thefly.com. See Story Here