Is Intel Stock Going to $0?

Core Viewpoint - Intel is facing significant challenges and a decline in its market position, similar to an underdog story, but the outlook remains pessimistic for a turnaround [1][3]. Financial Performance - Intel's revenue has been on a rapid decline since 2021, with figures dropping from $79 billion in December 2021 to $63 billion in 2022, and further down to $54.2 billion in 2023, $53.1 billion in 2024, and projected at $52.8 billion in 2025, marking a total decline of 33% from 2021 [5]. - The company's gross margin for Q4 2025 was reported at 37%, a decrease of 4.2% year over year, while the operating margin for the entire year was -4.2%, indicating negative profitability [6]. Market Position and Competition - Intel was once the largest semiconductor manufacturer but lost its leading position to Samsung in 2017, and its decline has continued despite receiving $8.9 billion in government support [2][3]. - Apple has transitioned away from using Intel processors in its MacBook line, completing the process in 2023, which has significantly impacted Intel's revenue [4]. Debt and Investment - Intel is currently carrying a total debt of $46 billion against cash reserves of $14.2 billion, indicating financial strain [6]. - The company is investing $36 billion in two new semiconductor factories in Ohio and $32 billion in two factories in Arizona, although the opening of the Ohio plant has been delayed until at least 2030 due to financial pressures [7].