When the M1 Macs came out, Parallels announced it could port their virtualization software to Apple Silicon.
I found the ability to switch between Windows Excel and PowerPoint (which still, to this day, have some features not found on the Mac) and my Mac-based graphics and video applications to be a huge win. I've been running various versions of the Parallels virtualization solution on my Intel Macs since I repurchased my 2013 iMac in the day. Apple's Mac lineup can be confusing as the company transitions from Intel processors to its own Apple Silicon processors.
