Intel's stock price fell more than 8%, with quarterly losses and the risk of exiting the foundry business putting pressure on the stock price.

On Friday morning, Intel's stock price fell more than 8% in early trading. Earlier, the chip manufacturer had forecasted that its quarterly losses would exceed expectations and warned that it might exit the wafer foundry business--despite the new CEO, Chen Liwu, having formulated a transformation plan. Chen Liwu hinted on Thursday that he would abandon the core strategy of his predecessor, Pat Gelsinger, and warned that without investment supported by demand, Intel might exit the wafer foundry business. This could jeopardize billions of dollars in assets and deepen the company's dependence on TSMC.