[pointyfence]

That's what the market has been saying for a while: the cost of the assets were mal-invested in its current context and are not worth what the accounting says they are.

Markets obviously can be wrong, but to think that markets are so inefficient that it confuses book value with liquidation value for a company like Intel is much more wrong.

[osnium123]

If TSMC were permitted to acquire Intel’s fab assets and liquidate them, it would probably add more than $100B in market cap for them.