Well no one can predict the future but what's your reasoning that such an important technology partner to such massive companies will all of a sudden stop innovating and become less significant?
Apple never had the ability to develop custom x86 chips in house and were constantly at the mercy of Intel's timelines and product development priorities, as well as their extended issues shrinking their lithography below 14nm. ARM presents none of those issues for Apple - now they handle the design of their CPUs, prioritize whatever they want, and fab however many they need directly from whoever using newer processes that Intel still hasn't matched yet.
Intel is still around, still innovating, and still profitable. It has a lot more competition than in the past, but they are still a force to be reckoned with.