GoKawiilThe Intel logo is seen at the India Mobile Congress 2025 in Delhi, Oct. 11, 2025.
Intel shares plunged 17% on Friday after the chipmaker issued lackluster guidance and warned of a supply shortage.
The stock headed for its worst session since August 2024.
During a fourth-quarter earnings call with analysts Thursday, CEO Lip-Bu Tan said the company wouldn't be able to meet full demand for its products. He said production efficiency, or yield, is also below his targets.
"We are on a multiyear journey," he said. "It will take time and resolve."
The chipmaker expects first-quarter revenue to range between $11.7 billion and $12.7 billion, and adjusted earnings per share to break even. That was below LSEG expectations for earnings of 5 cents per share and $12.51 billion in revenue.
Over the last year, Intel shares have rallied more than double on hopes of a turnaround for the embattled American chipmaker, following investments from the U.S. government, SoftBank and Nvidia.