November was a strong month for both Qorvo Inc (NASDAQ: QRVO) and Qualcomm Inc (NASDAQ: QCOM) but a Morgan Stanley analyst recommends owning only one of them.

Joseph Moore upgraded Qorvo this week to overweight and raised his price target to $134 which suggests about a 32% upside from here.

The Morgan Stanley analyst likes Qorvo stock primarily because it has “one of the most attractive catalysts” in smartphones-related semiconductor names.  

He sees shares of the multinational as inexpensive especially considering its strong potential to grow earnings moving forward.

The bullish call arrives more than a month after Qorvo issued upbeat guidance for its fiscal third quarter. Moore expects strength in Chinese Android phones to help shares of the Greensboro-headquartered firm that are currently down about 10% versus their year-to-date high.

On the flip side, Joseph Moore downgraded Qualcomm Inc this week to “equal weight”.

The Morgan Stanley analyst agreed in his research note that the Nasdaq-listed firm has executed quite well in recent years which has helped it expand its market share. But the “strong execution”, he added, has established a “tough bar going forward” as well.

Moore turned dovish on Qualcomm stock also because he expects the multinational to see “material” Samsung-related loss this year that will make it difficult to grow earnings at an exciting pace.

Shares of Qualcomm Inc have also gained more than 30% over the pasts six weeks.

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