PREVIEW: Qualcomm shares rise as smartphone chips revenue seen boosting quarterly results

Shares of chip designer Qualcomm QCOM.O are up 2% to $150.11 ahead of its quarterly earnings result due after market close on Wednesday

QCOM's revenue is expected to rise ~5% to $12.2 billion led by growth in CDMA technologies partly offset by a drop in technology licensing. Adj EPS is expected to be flat at $3.41

QCOM's rev and adj EPS have met analyst expectations every time over the last 8 quarters

QCOM is among the world's biggest suppliers of modem chips that connect smartphones to wireless data networks. In November, QCOM forecast quarterly sales and profit above market expectations as premium smartphone sales rebounded

Among 39 analysts covering QCOM, avg rating is "BUY" and median PT is $189.56

QCOM is down 12% YTD vs NASDAQ Composite Index's .IXIC down 1.2% decrease