X86 continues to contract, modems, memory and IoT are all commodities with many lean competitors who are willing to compete even for a few dollars per chip.
Intel is betting on selling cloud cpus to FB, google and others. You think the billions they spend that feed intels billions profits make them consider ARM which is cheaper and more efficient?
The scale has enabled TSMC and Samsung to now match intel process technology and will soon surpass them as they are hungrier and have competition and huge scale for investment. Intel continues to shrink, sad state for what was once a great company. So much opportunity lost and now taking water like the titanic, it will surely sink.