ARM is the real deal, it has been for some time.  It will do a lot of damage to INTC.  It should begin to dent INTC in the data center soon.  Smart phones have become the main computing device for billions around the globe, specially in emerging markets and young people in developed markets.

As I have been saying for quite some time INTC has missed the boat in mamy new emerging computing intensive fields, which will explode the growth of multi-core CPU sales.  INTC's best days increasingly look to be behind them.