Last March, I suspected Intel was already dead, but given its size and momentum, it would take a few years to see the company disappear (or more probably sold for pieces). It seems everything is on track since AMD, their old and yet historically very small nemesis, is now getting bigger than them.
The AMD fabless model is certainly very efficient in the context of two years of global crisis and a future recession. Whereas Intel has to commit to building factories and using them for literally decades, AMD can pretty much turn around in a matter of months. But this is also a testimony of how Intel has been drained of top talents after several years of underwhelming chip design (I'm being polite) and how AMD played a far superior HR game.
Not to mention that Apple making their own chips is certainly the most destructive catalyst of Intel's demise.
A lesson always worth remembering: your fiercest challengers might not come from within your market. Sometimes, they can even be your past customers.