Down More Than 50%, Can Intel Stock Rebound on New Foundry Plans?

A spinoff could help propel Intel's stock higher.With its shares trading down more than 57% so far in 2024 while the S&P 500 is up roughly 18%, it's pretty clear that Intel (INTC 1.78%) is having a difficult year.Much of Intel's struggle is tied to its floundering foundry business. This business manufactures semiconductor chips for itself as well as for other chipmakers, and it is a rival to Taiwan Semiconductor Manufacturing. Intel started the unit in 2021 to help revive its overall business, but since the ...