I like the 'internal foundry' messaging. It feels cool and futuristic. Also given recent tensions in the South China Sea it probably makes sense to get that going in a serious way for national security reasons.

Painful quarter as predicted. Gross margin down ~13 percentage points from high 50s to low 40s (depending on if you use GAAP vs Non-GAAP). Given Intel's high fixed costs, the revenue shortfall really hurts.

Up aftermarket which really just shows how little confidence the street has in Intel given this was a pretty poor showing.