Intel Shares Crash Nearly 29% After Weak Revenue Forecast
What Happened
Intel shares plunged nearly 29% on October 30, 2026, after the chipmaker forecast fourth-quarter revenue of $15 billion to $16 billion, below Wall Street expectations. The selloff followed stronger third-quarter results, including revenue of $16.5 billion, up 21% year-on-year. Investors reacted to concerns over weaker PC demand, rising memory costs and Intel's cash flow outlook.
Key Takeaways
Intel's stronger quarterly earnings were overshadowed by its weaker outlook. Higher memory prices, pressure on PC demand and continued manufacturing investment have raised concerns about the company's near-term performance.