Intel (INTC) - Get Report is staring at a tougher competitive environment in PC CPUs than it has seen in some time.

Don't blame Intel's chip engineering teams for this: They continue executing fairly well even as the company's manufacturing teams stumble. Intel's announcements on Tuesday at the Computex trade show, which include the unveiling of a new high-end desktop CPU and a sneak peak at a massive 28-core CPU due later this year, make this clear.

However, AMD (AMD) - Get Report and Qualcomm (QCOM) - Get Report have been making moves of their own. AMD, which has been taking desktop CPU share in recent quarters, is six weeks removed from launching second-gen Ryzen desktop chips that got good reviews, and plans to refresh its well-received Ryzen Threadripper line (meant for enthusiast PCs and workstations) later this year.

And Qualcomm, which recently saw Windows 10 notebooks relying on its Snapdragon 835 processor/modem arrive, used Computex to unveil the Snapdragon 850, a chip that will go into Windows PCs arriving before the end of 2018.

Intel is doing enough right to avoid seeing massive share loss. But between AMD and Qualcomm's moves, sluggish PC demand and the erosion of the company's traditional manufacturing process edge, Intel will have its hands full delivering positive PC sales growth.

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