"What's interesting is [Intel CEO] Lip-Bu Tan held an Intel roadmap, innovation day," he said. "No mention of ARM, no mention of Apple, no mention of Nvidia, but actually I'm getting more positive on Intel finally. I think it's a bittersweet positive. What I mean by that is they're not going to do a spin-out, apparently, and create a joint venture. Rather, what Lip-Bu Tan is going to do is dial down cost, which is very prudent."