Despite their longtime rivalry, Qualcomm (NASDAQ: QCOM) and Intel (NASDAQ: INTC) share a common theme: both are in the midst of reinventing themselves. The markets that pushed each to prominence have changed. For Qualcomm, the inevitable slowing of smartphone sales — particularly Apple and its iPhones — has left it scrambling to make a dent in new, fast-growing markets including the Internet of Things (IoT) and wearables.