Apple is worth 4 times Intel's value ([1], [2]), and also, has 4x more sales. In my opinion, Apple buying TSMC (much smaller than Intel [3]), Panasonic (quite small in comparison, too [4]), and Sharp (tiny [5]), could mean almost complete vertical integration, including CPU, RAM, battery, and display. After that, not only Apple could avoid relying on Intel for desktop processors, but able to drive its margins higher than ever (replacing $300-1000 CPUs with $50-200 own CPUs, controlling even more cutting-edge litography planning, etc.).
[1] http://www.forbes.com/companies/apple/
[2] http://www.forbes.com/companies/intel/