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Intel's Immiseration
The long, seemingly inevitable decline of an icon
Complicating the picture is Intel’s status as the last US-controlled at or close to leading-edge logic maker and the recipient of billions of dollars from the CHIPS and Science Act. Smith’s defense against the criticism of wasted dollars and the need for patience might be reasonable, but I’m not sure that presenting this as the ‘start’ and ‘early stages’ of a turnaround plan is credible. Generally, a company that’s three and a half years into a turn-around, needs more to show than a partial fix to manufacturing issues to convince investors that the plan is on track.
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