iPhone was also barely making a dent in Nokia and Blackerry's margins in the first couple of years. The difference is the update cycles are longer in this business but intel could be the next Nokia in 10-20 years.

By then all the current board members will be retired :-)

And right there you just pinpointed the reason why so few companies truly innovate anymore. There's no benefit to innovation if the only thing you're ever evaluated on is how profitable you were in the prior three months.

Worse, if you're a 60yr old board member, you're not going to approve of a project that wont get returns to you quickly. How can any company make a 10 year investment when none of the board cares longer term than their retirement in a couple years

We bought our first EPYC server last year. We'll buy many more.