With an engineer on the helm, rehiring big names in the field, opening more fabs, and having access to TSMC's newest node over AMD[1].. it seems unlikely.
Intel has to do next 4 years what it failed to do for the past 8 years and the complexity of execution in the space is getting harder and hander. Also, they are fighting on multiple fronts, upstarts in GPU, write-offs on AI hardware, Losing share of x86 with ARM et al. Losing share in x86 to AMD, having to rely on TSMC for advanced chips. Also, some bright spots where, they are opening up their foundries for design firms etc.
Over all, Intel has to do perfect execution and we did not fully talk about Apple, Amazon, Microsoft designing their own chips and using Intel's competition for fabbing them. They are in a tough spot, but if any company can come out of it winning, its Intel. They have done it before.
Intel has been a crappy company to work for and doing a crappy job for a long time, but I'm willing to bet they still have enough highly-experienced geniuses on hand to pull through
If you know something the market doesn't know, and you're confident that you're right, then put all your eggs in that basket: that's how one beats the market.
(Don't follow this advice, I'm just a dude on the internet, this is not financial advice and my background is biochem + software, not finance)
Over all, Intel has to do perfect execution and we did not fully talk about Apple, Amazon, Microsoft designing their own chips and using Intel's competition for fabbing them. They are in a tough spot, but if any company can come out of it winning, its Intel. They have done it before.