Tbh both companies have found themselves in a hole of TSMC's making. AMD are clearly getting it worse - OEM's are trying to build whole 'Windows 7' systems but they are missing one very important ingredient. That isn't just affecting gpu sales, but cpu and chipset too.
TSMC really need to get their act together soon, but how likely is that? As mousemonkey says they've been having issues with their 40nm for months now - is there any reason to believe they will get it sorted at all? If they don't, we will not see Fermi at all, at least not the high end part.