It's not really competition since it doesn't affect the deals they have with OEMs for servers, desktops and laptops. At most Apple could just eat a few percent in the mainstream market.Let's not forget "the other" competition that now exists and is whopping both Intel's and AMD's *** right now: Apple's M1 silicon.
I'm no Apple fanboi but teams blue and red have a lot of catching up to do
Performance-wise the M1 is amazing but it is also helped by the software it is running on. This is the result of specialised hardware and software. (akin to how consoles do it)