They don't price their based on cost + profit. They price their product based on what analysts think the market will bear.

And for your original question: "How can they be losing money when prices are higher than ever"

They didn't lose money. In Q3 of 2026 they beat earnings estimates by 27%, and missed revenue by 0.25%. The stonk dropped because its price was based on analysts' guesses on what it would do in the future, and they've revised that estimate down based on Intel's earnings report and what they think the AI market is going to look like. And so the stonk price collapsed all the way back to where it was in....April of this year.

The materials are also surely more expensive.