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Intel and Qualcomm Look to Transform Themselves as Their Core Businesses Flatline

This article originally appeared on Real Money on Dec. 7, 2016.

There are a lot of differences between the two biggest U.S. chipmakers, but as a pair of stories this week demonstrate, 2016 has provided a major common thread between them.

Each company has realized it's unlikely to see much (if any) growth in the coming years from the market that propelled its rise -- and one that needs to make big changes in response.

Intel (INTC) , recognizing that PC CPUs will likely be a flat-to-declining business, has carried out big layoffs that hit its PC and mobile processor operations hard, and unveiled a 5-part strategy that aims to transform Intel "from...