James Allworth:

Indeed, that deal between Apple and Intel was more important for Intel than it could have ever possibly realized. But it wasn’t because Intel had sewn up the last of the desktop computer processor market. Instead, it was because Intel had just developed a relationship with a company that was thinking about what was coming next. And when Apple were figuring out how to power it — and by it, I’m talking about the iPhone — they came to their new partner, Intel, for first right of refusal to design the chips to do.

How did Intel respond?