Intel Corp (INTC)

[chipguy]

IBM sells/leases several thousand mainframes per year with perhaps 20
Z processor chips on average per system.

POWER sales have probably dropped well under 200k systems per year
with perhaps 4 to 6 POWER processor chips on average per system.

IBM made chips at a big loss to power hardware it sells for around
break even so they could attach profitable software to it along with
extremely lucrative support contracts and consulting services.

The problem for IBM is downward pricing pressure on the extremely
lucrative part of their business is pushing on down the line making
chips and hardware less sustainable. We have seen that with them
having to pay $1.5B to get rid of their semi operation "assets" last
year.