Intel is down and ARMH is down. Although it should look like a zero sum game from the outside where Intel wins at the expense of ARMH and vice versa it doesn't appear to be that way. The truth is that this worldwide economic funk we've been in since 2008 will resolve itself over time. When things improve the one thing I find to be most true from all regions of the world, all religions, and all political ideologies is that people want to be connected. They want computers and tablets and smartphones and all the other forms of computing that will come out. The worldwide thirst for connection to the internet is something that most folks at Wall street can't comprehend. The cheaper these devices get the more they will proliferate.
As the demand for devices grows so will the need for servers and all the backend support. I think Ashraf was right on when he mentioned that Intel may not have enough capacity for the demand of all the non-tablet and non-smartphone business.
Will Intel die on the vine? No. Will ARMH die on the vine? No. Is there a market for cheap computer hardware that grows exponentially as the prices decrease. Absolutely.