Trefis seems to have a method of segmenting stock value and applying it to markets. I do not know how accurate their model is but the Atom and Ultramobile processor part of Intel business seems to be set at 4.3%. The Apple phone business is a small fraction of the 4.3% segment. http://www.trefis.com/company?hm=INTC.trefis
It will not affect Q3 results and was likely considered in full year 2011 targets but it will be incorporated into future 2012 forecast and results.
Apple drives a very hard bargain with vendors. If Intel currently has spare capacity, this decision will increase the spare capacity and pressure margins and profits too. If Intel can use the freed up fab capacity satisfying demand for other Intel products, their revenue, profits and margins might improve.