Microsoft said in part its revenues are soft in part due to consumers opting for lower end laptops. Intel not only benefits from the trend toward low cost devices it already factored the trend into its outlook.
Moreover any softness in Microsoft's business segment due to companies passing over Vista to wait for W7 has also been factored into Intel's estimates.
While not based on the actual evidence, investors seem to have allowed MS's weakness second guess Intel's strong margin performance and guidance.