Apple is all about delivering great hardware and software integration. The iPhone 3GS still is the best smartphone out there only because of the great software / hardware mash. With its own chip powering the iPad, Apple validated the age old rumors that they are making their own chips. Though the rumored multi-core Apple chips for gaming focus are still to be seen, it is certain that The PA Semi acquisition in 2008 has played its part in the Apple A4.
Now if rumors are to be believed, Apple has acquired another chip design firm Intrinsity which has its expertise in ARM processors that Apple uses for its handhelds. Efficient chips developed by Apple are with an aim to reduce power consumption and yet deliver unmatched performance. With the iPhone / iPad and iPod touch doubling up as a media device and handheld gaming machine, this is certainly a USP for Apple.
Interestingly there has been no formal announcement of Apple acquiring Intrinsity, but the leak comes from founders of the company listing their current employer as Apple Inc on LinkedIN. The mysterious disappearance of the cos website is also a good enough indication (remember fingerworks?).