Comment by ghtbircshotbe

It's worth remembering that 5 years ago Intel was making close to 100b revenue at over 20% net margin. Whether they can again achieve this (or better) is the question, and depends on how much the total capex costs, how fast they can ramp up production, how long the data center capex spending lasts etc. It's possible their margins will never be that high again if they were the result of irresponsibly milking the business and not reinvesting. Tsmc has much better margins, though that may also not last if it's a result of lack of competition.