Intel Foundry Woes Continue with $7B Loss, Pushing Back Production and Profitability Targets to 2030

• Intel's foundry business lost $7B in 2023, 35% worse than 2022, with sales down 31% • Foundry division still struggling with -37% operating margins; "things still getting worse in 2024" • Intel pushed back gross margin and operating margin targets for foundries from 2026 to 2030 • Production targets for key 18A and 14A chips pushed from 2025 "well into the latter half of the decade" • Analyst sees pattern of Intel overpromising and underdelivering; says no reason to buy stock until 2030 goals maybe met