Intel Not Worried About Apple Competition

Competition in the computer chip market from Apple and others does not worry Intel, CFO Stacy Smith told CNBC Tuesday.

Intel's Shareholders' Meeting

“You know we don’t like to lose any design,” said Smith. “That said, we have absolutely the best silicon,” he added, firmly defending the company’s atom chip. Intel is the world's largest chip maker.

Apple used its own chips in its IPad, which sold over 1 million units in less than a month.

“We’re confident we have compelling solutions across notebooks, netbooks and tablets over time and that it will be a significant growth driver for the company going forward,” Smith said.