Lets examine the latest Gartner results showing another 5% drop in PC shipments. This means volume continues to drop in intel's cash cow. I don't care how many servers they sell and how much they charge but without the volume of client Intel is closer to DEC and IBM than the Intel of the 90's. They won't have the volume to feed the huge R&D required for 10nm and 7nm. They won't recoup the billions to develop the next generation x86. Simply put they will have to reduce design resource and cut people, they will have to cut factories and cut R&D and the virtuous cycle implodes.
The opposite is happening at Samsung and TSMC, fed by the billion unit demand for smartphone they have raced to invest billion and now out spend intel in building factories and investment in the latest tools for manufacturing. They have built a virtuous circle around the ARM aps processor and mobile.
Intel withers and will continue as they have small factories and volumes while Samsung and TSMC become the giants of the 21st century making the aps processor, the memory and the modem, pretty much all the silicon in your smartphone and tablet. Intel is the IBM of the past, and look what happened they limped alone for a couple decades because they made huge money from services and software, sorry intel has nothing but chips, it will surely implode.
Get your life jackets and climb to the stern of the Titanic as it is surely going down