If you'd bought Alcoa in 1983, you'd be up to 3X your investment, and above any pre-1995 price.
If you'd bought AMD in 1983, you'd be down to 1/3rd of your investment, and below all but a couple of weeks in 2009 and 1992.
On top of which, there will always be a market for Alcoa's products. They just have to get efficient compared to foreign competitors, perhaps merge with them to survive.
There is nothing AMD can do, because it needs to invent a whole new technology that nobody else has in order to compete, and it does not have assets or expertise anyone would merge with, unless it severs and sells itself as ATI.