While the chipmaker remains the dominant manufacturer of processors for personal computers, the company has struggled to shift its business swiftly enough towards the booming mobile industry. Those devices require low power microprocessors to build devices.
Meanwhile, ARM Holdings, a company that licenses out chip technology to build low-power chips, has benefited from Intel's shortcomings by selling technology to companies like Apple. he tech giant uses chip designs for its signature digital devices, such as iPhones and iPads.
Intel, however, is growing its mobile chip making business, Barrett said. It's just taking more time than expected for the company to catch up with an industry that has a large head start.
"I think they've got some good strategy there, it's just going to take some time to make those inroads," Barrett said. "But I think the capability is there and the strategy is right."