Well, R.I.P. There goes the high-end professional market for new Macs. Video production, music mixing, etc. Heck, even "gaming" on a Mac might cease to exist; instead they'll just allow developers to import their iOS apps and iPad apps and that'll be good enough.
It's not that it doesn't make sense making your own CPUs; it was a great decision with the iPhone.
The iPhone was, and still is, a huge percentage of their profit. They can afford investing a ton into SoC development.
Macs, however, only make up a very small percentage of their profit... competing with Intel and AMD is going to be impossible on a reasonable budget. They'd need to invest too much money to compete, which means, they won't compete and instead their most popular Macs (Macbooks > iMacs > Mac Minis) will be relegated to being "good" computers for general use and light work but largely useless for the pro market that need high performance systems.
So I gather the iMac Pro and Mac Pro will probably remain Intel and receive little attention.
On the plus side... their laptops might end up with really great battery life?
MSI Tomahawk B450
ASUS Radeon RX 480 ROG Strix
Corsair Vengeance LPX 32GB 3000MHz
Samsung 850 EVO
LG 34" Ultrawide (LG34UC98)
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