Qualcomm Faces Challenges in AI PC Market

QUALCOMM Incorporated (NASDAQ:QCOM) is struggling to gain traction in the AI PC market, with its Snapdragon X laptops failing to make a significant impact in sales. Canalys data revealed that Snapdragon X laptops sold less than 720,000 units in Q3, accounting for only 0.008% of global PC shipments. Despite AI-capable PCs gaining popularity worldwide, QUALCOMM’s market performance has been lackluster. Meanwhile, AI startup Perplexity is positioning itself for success, aiming to raise $500 million to further develop consumer AI devices, and has seen promising early revenue figures of around $50 million annually. QUALCOMM currently ranks 8th on a list of notable AI stocks, as hedge funds continue to show interest in the AI sector.