Expectations, however, were that the M1 Parallels implementation might run Windows for Arm but not Intel Windows applications.
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.
