Intel Corp (INTC)

[fastpathguru]

And you conveniently seem to forget that Apple is losing share to vendors in the Android ecosystem who don't have the same vertical stack as Apple.

The fundamental trend is, "Expensive, Proprietary IP -> Inexpensive, DIY IP."

(Not "Horizontal -> Vertical.")

I.e.:

UNIX/Windows/IOS -> Linux/Android
RISC/IA64 -> x86 -> ARM

Any increase in vertical integration is merely a natural consequence of the trend towards inexpensive, DIY IP.

fpg