GoKawiilIntel shares fall 29% after weak Q4 revenue guidance and PC demand warning
Intel stock dropped nearly 29% to close at $65.76 on Friday, its worst single-day performance since 1974, despite beating Wall Street's earnings estimates for the quarter. The company's fourth-quarter revenue forecast of $15-16 billion fell well short of the $17 billion analysts expected, with Intel citing a projected 12% drop in PC shipments in 2026 due to rising memory prices, plus a fab shutdown in Israel following a fatal explosion.
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The selloff wiped out roughly $12 billion in paper value from the US government's 10% stake in Intel, though that stake remains far above its original purchase price. The drop also followed steep declines at Alphabet and Meta this week, suggesting investors may be growing wary of how AI-related infrastructure spending and supply constraints are squeezing near-term profitability across the tech sector.
- Intel's stock fell almost 29% Friday, its worst day since 1974, despite beating earnings estimates.
- Weak PC demand tied to rising memory prices drove a disappointing Q4 revenue forecast of $15-16 billion.
- The US government's Intel stake lost about $12 billion in value, though it remains well above its purchase cost.
Source: techspot.com — Zo Ahmed, 2026-10-31
Published there as: “Intel stock plunges nearly 30%, its worst day in 52 years”
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