Qualcomm Incorporated (QCOM) is focusing on diversifying its product offerings by developing advanced chipsets for the AI PC market to reduce reliance on the slowing smartphone sector. The Snapdragon X Elite and X Plus chipsets are gaining traction from major manufacturers including Dell, HP, Lenovo, and ASUS. The AI PC market is projected to grow at a compound annual growth rate of 42.8% from 2025 to 2034, indicating a significant opportunity for Qualcomm’s expanding AI PC chipset portfolio.
Currently, QCOM shares have decreased by 23.9% over the past year, contrasting with the industry’s growth of 14.8%. The company has a price/earnings ratio of 13.41, notably lower than the industry average of 33.07. Earnings estimates for 2025 and 2026 have seen slight reductions to $11.71 and $11.82 per share, respectively.
Qualcomm faces competition from Intel Corporation (INTC) and Advanced Micro Devices (AMD), both of which are also leveraging advancements in AI PC technology. Intel expects to ship over 100 million AI PC chips by 2025, while AMD’s new processors are noted for strong performance and industry adoption.
