Qualcomm Incorporated (QCOM)

In November 2024, Qualcomm outlined plans to diversify beyond smartphone processors, targeting $4 billion in annual revenue from its personal-computer business by 2029. This strategy aims to challenge industry leaders like Intel and AMD. The company also seeks to generate an additional $22 billion annually over five years by expanding into PCs, vehicles, and the Internet of Things (IoT). This diversification is crucial as Qualcomm anticipates a reduction in business from Apple, which is expected to transition to in-house modem chips for its iPhones.

In October 2024, Qualcomm introduced the Snapdragon 8 Elite, a new processor featuring the custom Oryon CPU cores. This release marks Qualcomm's first custom microarchitecture for smartphone SoCs since the original Kryo cores.