By then:
- Intel's 10 nm node was known to be two years late and known to be plagued for many others while TSMC had already taken the crown for most advanced foundry on the planet
- Apple announced their work on phasing out Intel hardware completely for their own ARM SOCs
- AMD had launched Ryzen, back then a bit slower in single thread but already much more competitive in MT
- Supercomputers and crypto showed the ever increasing possibilities of GPUs for heavily parallelizable calculations and Intel had nothing to offer there
- Cloud providers building their own hardware on ARM
Then, eventually, you'll see a "straw that breaks the camel's back" and the hollow shell of the company will finally, fully implode.
When Jobs contacted Otellini about having Intel fab an ARM chip for them and Otellini said no... That's probably about the time their fate was sealed. And that would've been around 2006. Yes, there were plenty of signs prior to that. For example: AMD needed a lot less engineers to spin a new processor rev than Intel did and AFAIK that's still the case.
But Intel's stock has been stagnant for years.
Add to that the suspension of the dividend, and the packaging of the FPGA business (getting ready to sell it?) and the reference to idle capacity - guess they can't even fill that with their foundry business.
One thing I've noticed is that predicting timing is impossible. You can see a company showing signs of impending failure and somehow stock price still increases for a while, or the company decays slowly over a very long time. This might be a good thing since a company may save itself in some instances.