Intel Corp (INTC)

[Saturn V]

But Apple could do a custom SOC chip with an Intel CPU. That will give them the "control", but would involve a migration to x86.

That will be forced upon Apple if and when the Intel x86 based phones and tablets begin to outperform the Apple offerings at equivalent power levels. That happened with the Mac about 6 years ago when the PowerPC began to run out of steam when competing against x86. Intel will have to leverage its latest manufacturing technology to make the above scenario happen. At present the Atom uses two year old process technology, and thus the performance/power advantage is not compelling.