Barclays is out today with a new analyst note on Intel in light of the news that Apple could be shifting away from using the company’s processors in its Mac lineup by 2020. While Bloomberg noted that Apple provided around 5% of Intel’s yearly revenue, Barclays takes a closer look at the details.

The Barclays note from analyst Blayne Curtis and company breaks down the numbers when it comes to how many Macs Apple sells and the average cost of the Intel processors used in the various machines.

Barclays’ data (via Mercury Research) says 19 million Macs were sold last year across a wide range of price points. Lining up with yesterday’s Bloomberg article, Barclays estimates that Apple’s high-end machines account for 3-4% of Intel revenue, while the budget models are said to account for about another 2% of Intel’s sales.

The analysts make mention that this is a smart move for Apple and reference some Geekbench data comparing ARM and Intel processors, noting the iPhone beating out some MacBooks and even MacBook Pros.

All in all, Barclays believes Apple moving to custom processors will have a “fairly small” impact on Intel and is still a few years away, alluding to the idea that it could be beyond 2020.

Much of Intel’s business comes form servers and the enterprise sector, of which Barclays says the outlook is good.The analysts give INTC shares a target price of $55, up about 12% from the current value of roughly $49.

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Michael Potuck

Michael is an editor for 9to5Mac. Since joining in 2016 he has written more than 3,000 articles including breaking news, reviews, and detailed comparisons and tutorials.