Sure, Intel isn't the only chip out there...in fact far from it, but it has enough market share that as we find CPU's in every household appliance Intel, as the market leader, will do well. 

Truth is, I still have some due dilligence to do here on INTC, but I'm picking up some shares with money that I've got sitting around following it's gap down.  I think there is some short term upside potential, and that's why I've executed the trade...if my DD tells me that this isn't a great place for my money, I still think I'll make a bit in the short term.