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If you look at the hardware alone, even without considering the huge amount of graphics power taken away by kinect, the PS4 is MUCH more powerful than X1, some developers say that PS4 is 50% more powerful than X1.

Strangely, the inferior X1 APU is supposed to be even more expensive to produce because of the special and highly expensive type of integrated memory used. Microsoft should therefore fire the people responsible for this failed chip design forcing them to pay more for an inferior product compared to the PS4 APU.

However, compared to todays PC graphics capability, both console APU's are very weak in both processing and graphical power.