Read this first: https://www.cnbc.com/2023/10/18/apple-supplier-foxconn-to-focus-on-specialty-tech-not-cutting-edge-chips.html
This article discusses leading edge semiconductor technology and Intel isn't even mentioned. To the world outside of Intel, Intel is a has-been which has disappointed on delivering what it advertises for over a decade. Now Intel is just a wanna-be in the semiconductor industry. It still produces good products just not the absolute best. The amount of money wasted on the pursuit of regaining leadership that it will never achieve could be used to position the company to compete in markets that it is better suited to serve. The vast majority of semiconductor products are not produced on the absolute latest technology so there is a huge market to be served.
Management needs to have a reality check. Figure out the real strengths of the company and focus on building a business around those capabilities. Intel needs to hire some actual management talent from the outside and then listen to what they say. Hiring a wanna-be CEO from the early 2000s to turn the company around was an id--tic idea that has failed miserably. There are reasons PG didn't get the job when he worked here the first time and he is demonstrating those short comings now that he has been given the roll.
Being humble isn't an Intel value so I doubt the current management will be able to pull off a turnaround. Maybe the private equity firm that eventually buys Intel at a bargain basement price will see the potential value and build on it instead of just breaking it up and selling off the components for a profit. Meanwhile, the current stock price is just a prolonged "dead cat bounce" and the drawn out decline will continue.