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In page Intel:

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Intel's strategy was to develop processors with better performance in a short time, from the appearance of one to the other, as seen with the appearance of the Pentium II in May 1997, the Pentium III in February 1999, and the Pentium 4 in the fall of 2000, making the strategy ineffective since the consumer did not see the innovation as essential,[2] and leaving an opportunity for rapid gains by competitors, notably AMD. This, in turn, lowered the profitability[citation needed] of the processor line and ended an era of unprecedented dominance of the PC hardware by Intel.[citation needed]