Intel drops 9% as chipmaker's foundry business axes projects, struggles to find customers
1. Intel's stock fell 9% post-announcement of slashed foundry costs. 2. Earnings beat expectations, but concerns linger on manufacturing viability. 3. CEO stated no more unchecked spending; foundry business could face closure. 4. Intel's 2024 stock value decreased by 60%, its worst year yet. 5. Analysts noted uncertainty in customer adoption affecting future product roadmaps.