Sell-side analysts are generally not allowed to personally own/short any stocks within their coverage universe/sector. I am sure Stacy Rasgon has no positions in QCOM, INTC, or any other semiconductor stock.
This is a common misconception among retail investors and it usually leads to misguided comments about how the analyst who said something bad/good about the stock that they happen to be long/short is trying to "push it down" or "pump it up."