Intel's foundry push hits its critical test with the stock down 45% in October. The market is done paying for a turnaround story without proof, so the next data point on yields and external customers

What happened: Intel's turnaround hinges on proving its foundry strategy can deliver, as customers look for signs the company will add fab capacity and catch TSMC. Key numbers: The stock fell 45% in October. Why it matters: Customers are watching whether Intel adds fab capacity and closes the gap with TSMC, making the foundry strategy a critical test for the turnaround.

Intel's turnaround hinges on proving its foundry strategy can deliver, as customers look for signs the company will add fab capacity and catch TSMC.

Customers are watching whether Intel adds fab capacity and closes the gap with TSMC, making the foundry strategy a critical test for the turnaround.