QCOM Betting Big on AI PC: Will it Deliver Sustainable Growth?

Group 1 - Qualcomm is diversifying its product suite to unlock new revenue opportunities and reduce vulnerability to the smartphone sector, focusing on advanced chipsets for AI PCs [1][8] - The Snapdragon X Elite and Snapdragon X Plus chips are gaining market traction, optimized for Copilot+PCs with advanced AI functionalities [2][4] - The AI PC market is projected to grow at a 42.8% compound annual growth rate from 2025 to 2034, benefiting Qualcomm's expanding chipset offerings [4] Group 2 - Qualcomm faces competition in the AI PC vertical from Intel and AMD, with Intel's Core Ultra 200V series and AMD's Ryzen AI Max processors gaining demand [5][6][8] - Qualcomm's shares have declined 23.9% over the past year, contrasting with the industry's growth of 14.8% [7] - The company's shares currently trade at a price/earnings ratio of 13.41, lower than the industry average of 33.07 [9]