Intel foundry push faces critical test after record October stock plunge
The chipmaker forecasts revenue below estimates as PC costs rise, while Yoffie questions its credibility as a foundry supplier without excess capacity
Intel shares fell 45% in October, the steepest monthly drop on record according to FactSet, compounding pressure on the chipmaker's long-running effort to build a foundry business for outside customers. The sell-off followed the company's warning that revenue this quarter will be between $1 billion and $2 billion shy of analysts' estimates as the PC market struggles with soaring component costs.