Intel failed on mobile, failed on GPUs, struggled on 14nm, failed on 10nm. Intel has been very good at the old "If you sell an AMD CPU you better make a lot of money, because you sure as hell won't make any money out of Intel" but those days are gone. The reaosn their P/E is nowhere is because they're not going to be making any revenue at all in 2025 at this rate short of a government bailout.