Intel Corp (INTC)

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Most likely outcome is AMD will go from being unprecedentedly
behind Intel to a more traditional somewhat behind but competing
mainly on price and their limited enthusiast fan base.

What I think some people are missing is that the big step function down in AMD's PC revenue, which happened in late 2014/2015, was partly due to Intel coming in very aggressively with Bay Trail/Braswell Atom-based chips for low-cost PCs.



AMD had strong products at the low end of the market compared to the Intel offerings for a while with the likes of Brazos (Intel's "higher end" low end products were disabled Core CPUs, which meant sub-optimal cost structure, and the "lower end" low-end products were based on first-gen Atom, which was not great).

But with Bay Trail, Braswell, and Apollo Lake, Intel built much better, more efficient, and more integrated products and was able to capture a big chunk of the low-end market that it had pretty much ceded to AMD for a while.