That can also mean they haven’t done asset writeoffs they should have already done in previous quarters.

If you have billions in obsolete equipment you can technically get away with not doing an asset write off so it doesn’t show in the books of current quarterly performance. Just claim it’s not actually obsolete yet. It catches up eventually though.

So the above may be more of a timebomb than a value signal. It can indicate that Intel hasn’t written off ~$40billion of assets it should have and it would seem a lot of investors are aware of this. They are already losing $10billion a quarter without counting those write off so I understand the hesitance.