Past the pivot point and faced with the perfect storm!
Amazing the CEO can continue this narrative while the whole company continues to sink. How can he honestly say it is a macro economic issue when every other company did better.
The reality is so obvious!
Loss of scale ( compared to TSMC )
Loss of technology leadership ( TSMC and Samsung )
Core product is now truly replaceable by both AMD and ARM.
Core product has real competitor of scale and competence.
Business fundamentals pivoted a decade ago.
FUBAR