It's no secret that Qualcomm (NASDAQ: QCOM) has been gunning for a piece of the PC and laptop market. In 2016, Microsoft handed the mobile computing giant an exclusive deal to design chips using Arm Holding tech. With the launch of Apple's best-in-class M-series processors using Arm a few years ago, Qualcomm's efforts in the PC market have become more important than ever.

Meanwhile, the competitive landscape in PCs and laptops isn't shaping up well for Intel, which has enjoyed dominant market share in this space for decades. Is it time to buy Qualcomm stock as it tries to scoop up a lucrative new revenue stream? 

Qualcomm hosted its Snapdragon summit in late October 2023, finally unveiling details on its new "Windows on Snapdragon" chips -- dubbed the Snapdragon X Elite. Qualcomm has gained little traction with its PC chips for Microsoft Windows devices. But the new X Elite chips, powered by Oryon CPUs it got when it acquired Arm-based designer Nuvia in 2021, claim some impressive performance.

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Source Fool.com