GoKawiilIntel shares fall 45% in October after weak PC outlook and guidance miss
Intel's stock suffered its worst monthly drop on record in October, down 45%, after the company warned quarterly revenue could fall $1 billion to $2 billion short of analyst estimates. CEO Lip-Bu Tan cited a weakening PC market, with rising memory and component costs discouraging consumer upgrades, while Intel's foundry business still lacks a marquee external customer for its most advanced chips. The stock fell another 8% on Monday following a 29% single-day drop, its worst since the 1970s.