Jules, the market is skittish with regards to Intel probably because of market share domination. Any company, regardless of technological superiority, critical mass, and liquidity is always vulnerable if they have such market share supremity that it approximates monopoly.
In the case of Intel, as we know, this is the case. Competitors [always smaller] can eat away at their market share through lower prices or any number of factors that appeal to the traditionally smaller Intel clients. The larger clients will not switch. There's too much downside. The smaller, less important clients, will however in an effort to boost profits and/or differentiate/position their products in their market segment.
The other fear, of course, is monopoly. And as long as Intel doesn't integrate too much vertically or horizontally and control too much that's okay. Intel can never afford to not have effective competition, real or perceived. That's why Apple must stay in business. And that's why AMD and others are allowed to exist.
If Intel can continue to effectively maintain this delicate balance in the marketplace nothing, except itself and unforeseen technological change, can stop this juggernaut.
This is why I love this stock - highly volatile in the short term and excellent growth long term.
Regards
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