Just as we both predicted - ARMH is now back above $50. Does the market realize, however, that despite the "we'll fab for anybody" bit that Intel could do the exact same thing that it's doing with tablets to phones? ;-)
I think people are confused about contra revenue. Intel did not include $800 million revenue on tablets in their forecast for 2014 because it is being offset by a similar amount of contra revenue. So Intel is forecasting revenue growth for next year but it is being offset by other cost labeled contra-revenue.
Similarly, while they included modem revenue, they did not include any revenue from Merrifield or other AP's for phones in next years foreccast
They didn't include it because mgmt does not expect material sales from Merrifield. This was supposed to be the "knock out, kill ARM" part, but the market moved too fast. Moorefield will be Intel's next chance at bat, but I suspect the real traction doesn't come until Broxton.
BK's comments have set off another feel-good fluffy fantasy-feeding rise in ARMH but like Wallis said Intel is aiming straight for the price jugular against the ARMy now and that will happen a lot sooner and impact ARM revenues a lot quicker than any future theoretical fabbing of ARM chips by Intel.