Intel foundry push faces critical test after stock's 45% plunge in October

As Intel comes off its steepest stock drop since the 1970s due to a worsening outlook for the PC market, the chipmaker is facing intensifying pressure to get its flailing foundry business off the ground. It's been an elusive task for Intel. The company has spent half a decade, and a good chunk of its $108 billion in capital expenditures over that stretch, trying to challenge Taiwan Semiconductor Manufacturing Company . But it still has no marquee customer for its most advanced chips, and is primarily manufacturing chips for its own products. Wall Street is losing patience. After the U.S.